Stock picks of the day

The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day in negative territory. Capital Goods, Banks, Auto, PSU & Realty have ended negative in varying degrees while Consumer Durables, FMCG, Healthcare, IT, Metal & Oil have ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed cautious.

Sensex

Last Close - 18091.94 | Support - 17953, 17494 | Resistance - 18319, 18632

Trading Range - The Sensex opened at 18346.49, moved up to an intra-day high of 18491.06, declined to an intra-day low of 17927.92 and closed at 18091.94.

Review/Outlook - The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has received selling pressure at higher levels, has come off from its intra - day high and has finally ended in negative territory on higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 18094 level while significant resistance at higher levels (18600) - would limit the upside making it unsustainable. The outlook has turned neutral again while resistance comes in at the 19200+ level and support comes in at the 16210 level.

Guj. Min

Last Close - 386.70 | Support - 360, 327 | Resistance - 390, 471

Trading Range - The scrip opened at 395.00, moved up to an intra-day high of 397.15, declined to an intra-day low of 380.00 and closed at 386.70.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Godrej Ind

Last Close - 308.70 | Support - 307, 258 | Resistance - 366, 419

Trading Range - The scrip opened at 308.70, moved up to an intra-day high of 308.70, declined to an intra-day low of 308.70 and closed at 308.70.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Essar Shipp

Last Close - 213.35 | Support - 199, 158 | Resistance - 244, 277

Trading Range - The scrip opened at 208.65, moved up to an intra-day high of 213.35, declined to an intra-day low of 207.00 and closed at 213.35.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Jaypee Hotel

Last Close - 157.50 | Support - 153, 114 | Resistance - 189, 226

Trading Range - The scrip opened at 143.00, moved up to an intra-day high of 157.50, declined to an intra-day low of 142.70 and closed at 157.50.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

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.