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, Healthcare, IT, Auto, and PSU's have ended positive in varying degrees while Banks, Capital Goods, 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 - 12363.77 | Support - 12308, 12231 | Resistance - 12461, 12546

Trading Range - The Sensex opened at 12416.43, moved up to an intra-day high of 12481.93, declined to an intra-day low of 12341.34 and closed at 12363.77.

Review/Outlook - The Sensex has been relatively range bound with some significant selling pressure at the 12400+ level and has come off its intra-day highs after a rather good opening to give a downward 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 downside could come in below the 12341 level while good intra-day support comes in at the 12301 level.                 

Rain Comm. (Daily)

Last Close - 192.95 | Support - 181, 153 | Resistance - 206, 250

Trading Range - The scrip opened at 189.00, moved up to an intra-day high of 192.95, declined to an intra-day low of 187.00 and closed at 192.95.

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. 

Ahmed. Forg. (Daily)

Last Close - 262.30 | Support - 241, 206 | Resistance - 275, 300

Trading Range - The scrip opened at 250.00, moved up to an intra-day high of 262.30, declined to an intra-day low of 250.00 and closed at 262.30.

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.

FCS Softw. (Daily)

Last Close - 108.90 | Support - 106, 091 | Resistance - 133, 160

Trading Range - The scrip opened at 100.00, moved up to an intra-day high of 108.90, declined to an intra-day low of 100.00 and closed at 108.90.

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.

Garg Furnace. (Daily)

Last Close - 057.15 | Support - 053, 042 | Resistance - 060, 075

Trading Range - The scrip opened at 052.60, moved up to an intra-day high of 057.15, declined to an intra-day low of 051.50 and closed at 057.15.

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. 

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.