Stock picks of the day

The market has remained a bit volatile, has moved both ways and has finally ended the day in negative territory. Consumer Durables, Auto, Metals and PSU's have ended positive in varying degrees while Banks, Capital Goods, FMCG, Pharma, IT & Oil sector have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 12366.39 | Support - 12308, 12231 | Resistance - 12461, 12546

Trading Range - The Sensex opened at 12473.79, moved up to an intra-day high of 12489.28, declined to an intra-day low of 12343.80 and closed at 12366.39.

Review/Outlook - The Sensex has reflected some near term weakness (has once again slipped below the 12400 level) to give a downward bar reversal on the daily chart after posting a fresh high but has still ended in negative territory but on distinctly lower volume. The outlook continues to remain positive indicating the possibility of a rather range bound movement while intra-day support comes in at the 12340 level.             

Taneja Aero. (Daily)

Last Close - 146.65 | Support - 130, 098 | Resistance - 151, 184

Trading Range - The scrip opened at 143.90, moved up to an intra-day high of 146.65, declined to an intra-day low of 143.90 and closed at 146.65.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards. 

Alphageo Ind. (Daily)

Last Close - 136.80 | Support - 131, 097 | Resistance - 140, 162

Trading Range - The scrip opened at 128.00, moved up to an intra-day high of 136.80, declined to an intra-day low of 126.50 and closed at 136.80.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

GMR Ind. (Daily)

Last Close - 168.85 | Support - 153, 136 | Resistance - 178, 215

Trading Range - The scrip opened at 168.85, moved up to an intra-day high of 168.85, declined to an intra-day low of 165.05 and closed at 168.85.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Kalindee Rail. (Daily)

Last Close - 144.80 | Support - 138, 106 | Resistance - 148, 167

Trading Range - The scrip opened at 141.00, moved up to an intra-day high of 144.80, declined to an intra-day low of 141.00 and closed at 144.80.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Daily Stock Track               

GLOSSARY : CMP – Current Market Price, MACD – Moving Average Convergence Divergence, RMI – Relative Momentum Index, RSI – Relative Strength Index, ROC – Rate of Change, EMA – Exponential Moving Average, Cls – Closing Price, Support – Level where buying can be expected, Resistance – Level where selling can be expected, Tu – Turning Upwards, Td – Turning Downwards, Sd – Sideways, Up – Uptrend, Dt – Downtrend, Ob – Overbought, Os - Oversold.

Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.