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. Capital Goods, Consumer Durables, Healthcare, IT, Auto, and PSU's have ended positive in varying degrees while Banks, FMCG, Metals and Oil have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed mixed.

Sensex (Daily)

Last Close - 12365.83 | Support - 12308, 12231 | Resistance - 12461, 12546

Trading Range - The Sensex opened at 12335.82, moved up to an intra-day high of 12429.74, declined to an intra-day low of 12261.49 and closed at 12365.83.

Review/Outlook - The Sensex has been relatively range bound with some significant selling pressure at the 12400+ level but has come off its intra-day lows after a rather weak opening to almost give an upward key reversal on clearly lower volume to just about end in negative territory. The extreme near term picture has turned a bit hazy indicating rather directionless movement but an intra-day upside could come in above the 12430 level while good intra-day support comes in at the 12343 level.                

GMR Ind. (Daily)

Last Close - 205.15 | Support - 192, 166 | Resistance - 216, 257

Trading Range - The scrip opened at 198.70, moved up to an intra-day high of 205.15, declined to an intra-day low of 192.05 and closed at 205.15.

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. 

Gtc Ind. (Daily)

Last Close - 170.95 | Support - 164, 150 | Resistance - 195, 223

Trading Range - The scrip opened at 162.10, moved up to an intra-day high of 170.95, declined to an intra-day low of 160.50 and closed at 170.95.

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.

IL&FS. (Daily)

Last Close - 176.95 | Support - 155, 140 | Resistance - 200, 250

Trading Range - The scrip opened at 175.00, moved up to an intra-day high of 176.95, declined to an intra-day low of 175.00 and closed at 176.95.

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.

Guj. Fluo. (Daily)

Last Close - 603.25 | Support - 597, 550 | Resistance - 700, 750

Trading Range - The scrip opened at 589.00, moved up to an intra-day high of 603.25, declined to an intra-day low of 585.00 and closed at 603.25.

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.