Stock picks of the day

The market has had a volatile trading session to basically come off its intra-day high and has finally ended the day in negative territory. Pharma & IT have ended positive in varying degrees while Banks, Auto, Consumer Durables, Capital Goods, FMCG, Metal, Oil & PSU sector have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 10866.51 | Support - 10740, 10662 | Resistance - 10884, 10947

Trading Range - The Sensex opened at 10939.80, moved up to an intra-day high of 11039.34, declined to an intra-day low of 10810.04 and closed at 10866.51.

Review/Outlook - The Sensex has run into stiff selling pressure at higher levels and has declined from its intra-day high to end in negative territory on distinctly lower volume and has still failed to close above the 11000 level. The outlook seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts would seem to suggest inconclusive movements, a downside below the 10810 level cannot be ruled out - intra-day resistance comes in at the 10940 – 11000 level.      

Dalmia Cement. (Daily)

Last Close - 255.25 | Support - 235, 203 | Resistance - 276, 304

Trading Range - The scrip opened at 270.00, moved up to an intra-day high of 272.00, declined to an intra-day low of 255.25 and closed at 255.25.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards. 

GM Breweries. (Daily)

Last Close - 106.65 | Support - 091, 069 | Resistance - 108, 139

Trading Range - The scrip opened at 114.70, moved up to an intra-day high of 114.70, declined to an intra-day low of 106.65 and closed at 106.65.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.        

Fairfield Atlas. (Daily)

Last Close - 064.50 | Support - 058, 045 | Resistance - 080, 097

Trading Range - The scrip opened at 059.85, moved up to an intra-day high of 064.50, declined to an intra-day low of 057.50 and closed at 064.50.

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.        

Aegis Logis. (Daily)

Last Close - 150.15 | Support - 133, 111 | Resistance - 155, 183 

Trading Range - The scrip opened at 148.70, moved up to an intra-day high of 150.55, declined to an intra-day low of 146.50 and closed at 150.15.

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.

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