Stock picks for today

The market has recovered smartly from its intra-day lows to and has ended the day clearly in positive territory. Banks, Capital goods, FMCG, auto and metals have ended positive in varying degrees while Consumer Durables, Pharma, IT, PSU and the Oil sector have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed positive.

Sensex (Daily)  

Last Close- 10370; Support - 10305, 10192; Resistance - 10400, 10500

Trading Range – The Sensex opened at 10309, moved up to an intra-day high of 10423, declined to an intra-day low of 10206 and closed at 10370.

Review/Outlook – The Sensex has reflected strength to post a fresh all time high on higher volume, despite some volatility it has managed to cross the 10400 level from an intra-day point of view and has given an all time high closing. The outlook remains positive as the sequence of higher tops, higher bottoms continues while a further upside seems to be on the cards.                 

Goodrick Group. (Daily)   

Last Close - 120.05; Support - 114, 097; Resistance - 129, 152

Trading Range – The scrip opened at 111.70, moved up to an intra-day high of 120.05, declined to an intra-day low of 110.00 and closed at 120.05.

Review/Outlook – The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards. 

Ansal Infra. (Daily)   

Last Close - 569.05; Support - 568, 500, Resistance - 620, 650

Trading Range - The scrip opened at 529.90, moved up to an intra-day high of 572.15, declined to an intra-day low of 526.00 and closed at 569.05.

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.

Harrison Malyalam. (Daily)   

Last Close - 167.50; Support - 163, 133; Resistance - 178, 207

Trading Range - The scrip opened at 153.25, moved up to an intra-day high of 167.50, declined to an intra-day low of 152.00 and closed at 167.50.

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. 

Kirl. Pneum. (Daily) 

Last Close - 336.40; Support - 300, 250; Resistance - 350, 340 

Trading Range - The scrip opened at 320.00, moved up to an intra-day high of 336.40, declined to an intra-day low of 318.00 and closed at 336.40.

Review/Outlook - The scrip has reflected strength by moving up virtually from open to close 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	610, 569	627.70	639, 700	Up
DR. REDDY	1282, 1225	1302.85	1342, 1400	Up
HLL	240, 224	241.95	252, 266	Up
INFOSYS	2813, 2769	2828.60	2938, 3075	Sd
ITC	170, 155	172.60	190, 210	Up
RIL	700, 675	708.75	725, 750	Tu
SATYAM	752, 730	769.45	770, 810	Up
SBI	871, 850	877.20	900, 926	Tu
T MOTORS	811, 771	814.35	850, 900	Tu
TISCO	425, 411	430.70	452, 466	Up

 

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 be having positions in the stocks mentioned above.