Stock picks of the day

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

Sensex

Last Close - 13791.54 | Support - 13554, 13146 | Resistance - 13872, 14046

Trading Range - The Sensex opened at 14085.53, moved up to an intra-day high of 14153.12, declined to an intra-day low of 13727.14 and closed at 13791.54.

Review/Outlook - The Sensex has had a weak trading session, has had a negative opening, has moved just one way, has faced selling pressure even at lower levels, has come off from its intra - day high and has finally ended sharply 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 13802 level while significant resistance at higher levels (14066) - would limit the upside. The outlook has turned neutral again while resistance comes in at the 15300+ level and support comes in at the 12780 level.

Spanco Tele

Last Close - 097.50 | Support - 090, 076 | Resistance - 112, 138

Trading Range - The scrip opened at 095.25, moved up to an intra-day high of 098.50, declined to an intra-day low of 091.55 and closed at 097.50.

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.

Gulf Oil

Last Close - 079.85 | Support - 074, 058 | Resistance - 093, 126

Trading Range - The scrip opened at 076.00, moved up to an intra-day high of 079.90, declined to an intra-day low of 076.00 and closed at 079.85.

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.

Gss America

Last Close - 265.95 | Support - 259, 201 | Resistance - 308, 379

Trading Range - The scrip opened at 245.45, moved up to an intra-day high of 270.95, declined to an intra-day low of 243.55 and closed at 265.95.

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.

Goa Carbon

Last Close - 107.25 | Support - 104, 085 | Resistance - 116, 139

Trading Range - The scrip opened at 100.00, moved up to an intra-day high of 107.25, declined to an intra-day low of 098.10 and closed at 107.25.

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.