Stock picks for today

The market has remained in a solid state of mind, has come off its intra-day low and has finally ended the day sharply in positive 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 stable.

Sensex (Daily)

Last Close | 14287.21; Support | 14046, 13872; Resistance | 14431, 14732

Trading Range: The Sensex opened at 14007.32, moved up to an intra-day high of 14322.67, declined to an intra-day low of 14002.19 and closed at 14287.21.

Review/Outlook: The Sensex has had a strong trading session, has had a positive opening, has moved just one way, has faced buying support even at higher levels, has come off from its intra - day low and has finally ended sharply in positive 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 14296 level while significant resistance at higher levels (14484) | 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 (Daily)

Last Close | 096.80; Support | 090, 076 ; Resistance | 112, 138

Trading Range: The scrip opened at 100.00, moved up to an intra-day high of 100.00, declined to an intra-day low of 092.00 and closed at 096.80.

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 (Daily)

Last Close | 081.85; Support | 074, 058 ; Resistance | 093, 126

Trading Range: The scrip opened at 083.40, moved up to an intra-day high of 083.70, declined to an intra-day low of 081.30 and closed at 081.85.

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 (Daily)

Last Close | 267.90; Support | 259, 201; Resistance | 308, 379

Trading Range: The scrip opened at 273.70, moved up to an intra-day high of 277.50, declined to an intra-day low of 264.10 and closed at 267.90.

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 (Daily)

Last Close | 111.15; Support | 104, 085; Resistance | 116, 139

Trading Range: The scrip opened at 112.25, moved up to an intra-day high of 112.60, declined to an intra-day low of 105.45 and closed at 111.15.

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.

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 not only be having positions but could even be having contrary positions in the stocks mentioned above.