Stock picks for today

The market has remained in a positive frame of mind, has come off its intra-day low and has finally ended the day in positive territory.

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

Sensex (Daily)

Last Close -- 14515.90; Support -- 14500; 14400Resistance -- 14600, 14700

Trading Range: The Sensex opened at 14432.90, moved up to an intra-day high of 14526.51, declined to an intra-day low of 14372.36, and closed at 14515.90.

Review/Outlook: The Sensex has reflected significant amount of strength by not only posting an all time high but has also closed at an all time high, has remained positive to come off from its intra-day low and has finally ended in positive territory on distinctly lower volume.

Volatility can be the order of the day, the positives of the last trading session might just spill over to today's trading session indicating the possibility of an intra-day upside especially above the 14527 level while strong support at lower levels (14444) could mean a rather limited downside.

Taneja Aerospace & Aviation (Daily)

Last Close -- 247.65; Support -- 243, 188; Resistance -- 294, 325

Trading Range: The scrip opened at 245.90, moved up to an intra-day high of 247.65, declined to an intra-day low of 240.00 and closed at 247.65.

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.

Ansal Properties and Infrastructure (Daily)

Last Close -- 799.60; Support -- 752, 725; Resistance -- 800, 850

Trading Range: The scrip opened at 764.00, moved up to an intra-day high of 799.60, declined to an intra-day low of 726.00 and closed at 799.60.

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.

Flex Industries (Daily)

Last Close -- 225.60; Support -- 225, 200; Resistance -- 250, 300

Trading Range: The scrip opened at 220.00, moved up to an intra-day high of 225.60, declined to an intra-day low of 206.00 and closed at 225.60.

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 Industries (Daily)

Last Close -- 317.10; Support -- 310, 257; Resistance -- 368, 398

Trading Range: The scrip opened at 304.00, moved up to an intra-day high of 317.10, declined to an intra-day low of 303.50 and closed at 317.10.

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.

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