Stock picks of the day

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

Sensex (Daily)

Last Close - 12537.98 | Support - 12461, 12308 | Resistance - 12546, 12622

Trading Range - The Sensex opened at 12387.89, moved up to an intra-day high of 12558.71, declined to an intra-day low of 12315.02 and closed at 12537.98.

Review/Outlook - The Sensex has moved both ways but has witnessed significant support at lower levels, has staged a strong rebound to actually close above the 12500 level for only the third time ever but surprisingly enough on lower volume. The Sensex has staged one of its trademark turnarounds to not only post a fresh 4 ½ month high but hasn't even breached the previous day's bottom while an intra-day upside above the 12559 level seems like a distinct possibility.                   

GMR Ind. (Daily) 

Last Close - 225.45 | Support - 216, 192 | Resistance - 257, 310

Trading Range - The scrip opened at 223.90, moved up to an intra-day high of 225.45, declined to an intra-day low of 218.00 and closed at 225.45.

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. 

Bom. Burmah. (Daily)

Last Close - 433.40 | Support - 386, 315 | Resistance - 437, 492

Trading Range - The scrip opened at 406.00, moved up to an intra-day high of 433.40, declined to an intra-day low of 406.00 and closed at 433.40.

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.

Lumax Ind. (Daily)

Last Close - 296.90 | Support - 255, 214 | Resistance - 300, 350

Trading Range - The scrip opened at 287.40, moved up to an intra-day high of 296.90, declined to an intra-day low of 287.40 and closed at 296.90.

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.

IL & FS. (Daily)

Last Close - 178.40 | Support - 155, 140 | Resistance - 200, 250

Trading Range - The scrip opened at 173.00, moved up to an intra-day high of 178.40, declined to an intra-day low of 170.00 and closed at 178.40.

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.