Stock picks of the day

The market has staged a good recovery to basically come off its intra-day low and has finally ended the day in positive territory. Auto, PSU, Oil, Metals, Capital Goods, Consumer Durables, Banks, FMCG, IT & Pharma have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a wafer-thin increase (read as turnover) while the undertone seemed better.

Sensex (Daily)

Last Close - 11778.02 | Support - 11707, 11618 | Resistance - 11826, 11931

Trading Range - The Sensex opened at 11699.57, moved up to an intra-day high of 11795.02, declined to an intra-day low of 11666.01 and closed at 11778.02.

Review/Outlook - The Sensex has faced alternate bouts of both, buying & selling and has come off its intra-day low to end in positive territory on marginally higher volume and has managed to close above the 11000 level for the eighteenth trading session in a row. The outlook seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts seem to be pointing towards a slight upward bias today especially above the 11795 level - the sanctity of the 11330 level needs to be maintained at all times.                          

Aegis Logistics. (Daily)

Last Close - 175.55 | Support - 155, 133 | Resistance - 183, 230

Trading Range - The scrip opened at 171.80, moved up to an intra-day high of 181.20, declined to an intra-day low of 171.55 and closed at 175.55.

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. 

GTC Ind. (Daily)

Last Close - 154.75 | Support - 150, 129 | Resistance - 164, 195

Trading Range - The scrip opened at 145.90, moved up to an intra-day high of 154.75, declined to an intra-day low of 145.50 and closed at 154.75.

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.        

Bombay Burmah. (Daily)

Last Close - 340.40 | Support - 315, 265 | Resistance - 386, 437

Trading Range - The scrip opened at 331.00, moved up to an intra-day high of 340.40, declined to an intra-day low of 330.10 and closed at 340.40.

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.         

Harrisons Malayalam. (Daily)

Last Close - 093.45 | Support - 072, 061 | Resistance - 108, 133 

Trading Range - The scrip opened at 089.00, moved up to an intra-day high of 093.45, declined to an intra-day low of 088.80 and closed at 093.45.

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.

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.