Stock picks of the day

The market has remained volatile, has come off its intra-day low and has finally ended the day in positive territory. Consumer durables, auto, oil, healthcare, banks, capital goods and PSUs have ended positive in varying degrees while the FMCG, Metals and IT sectors have ended in negative territory. Volume registered a nominal decrease (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)                                                                               

Last Close - 13091.12 | Support - 13030, 12925 | Resistance - 13100, 13200

Trading Range - The Sensex opened at 13062.52, moved up to an intra-day high of 13137.74, declined to an intra-day low of 13014.65 and closed at 13091.12.

Review/Outlook - The Sensex has reflected strength to not only post an all time high but has also given an all time high closing to end in positive territory on slightly lower volume. A range bound movement seems to be on the cards while an intra-day upside cannot be ruled out especially above the 13137 level (an intra-day decline could come in only below the 13071 level) while intra-day support comes in at the 12993 level indicating a rather limited downside.   

GTC Ind. (Daily)

Last Close - 206.35 | Support - 195, 164 | Resistance - 223, 249

Trading Range - The scrip opened at 198.35, moved up to an intra-day high of 206.35, declined to an intra-day low of 197.20 and closed at 206.35.

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. 

Sub. Projects. (Daily)  

Last Close - 190.95 | Support - 179, 156 | Resistance - 200, 250

Trading Range - The scrip opened at 186.40, moved up to an intra-day high of 190.95, declined to an intra-day low of 182.25 and closed at 190.95.

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.

Ind. Hume. Pipes. (Daily) 

Last Close - 358.15 | Support - 321, 280 | Resistance - 380, 426

Trading Range - The scrip opened at 321.00, moved up to an intra-day high of 358.15, declined to an intra-day low of 320.60 and closed at 358.15.

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.

Ivrcl Infra. (Daily)  

Last Close - 306.50 | Support - 289, 268| Resistance - 326, 350

Trading Range - The scrip opened at 302.00, moved up to an intra-day high of 309.00, declined to an intra-day low of 301.00 and closed at 306.50.

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           

Scrip	Support	Last Close	Resistance	Trend
ACC	979, 924	981.90	1022, 1061	Sd
DR. REDDY	757, 733	760.85	795, 840	Tu
HLL	224, 216	237.55	240, 252	Sd
INFOSYS	2000, 1900	2084.90	2100, 2200	Tu
ITC	180, 168	188.60	190, 210	Sd
RIL	1250, 1195	1283.60	1300, 1350	Up
SATYAM	415, 405	427.10	430, 443	Tu
SBI	1100, 1050	1124.00	1190, 1250	Up
T MOTORS	811, 771	829.05	849, 888	Td
TISCO	480, 466	487.20	500, 530	Td

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.

DISCLAIMER : While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.

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