Stock picks for today

The market has remained volatile, has come off its intra-day high and has finally ended the day in negative territory. Capital Goods, FMCG, Oil, PSU, Auto, Consumer Durables, Healthcare and Metals have ended negative in varying degrees while Banks and IT have ended in positive territory.

Volume registered a noticeable decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close -- 13072.51; Support -- 13030, 12925; Resistance -- 13135, 13200

Trading Range: The Sensex opened at 13176.08, moved up to an intra-day high of 13202.68, declined to an intra-day low of 12950.07 and closed at 13072.51.

Review/Outlook: The Sensex has reflected near term weakness to come under significant amount of selling pressure to end in negative territory despite coming off from its intra-day low on distinctly lower volume. A range bound movement seems to be on the cards while an intra-day downside cannot be ruled out especially below the 13040 level (further weakness could come in below the 12950 level) while intra-day support comes in at the 12861 level indicating a rather limited downside.

GMR Ind. (Daily)

Last Close -- 348.70; Support -- 310, 257; Resistance -- 368, 440

Trading Range: The scrip opened at 334.00, moved up to an intra-day high of 348.70, declined to an intra-day low of 333.10 and closed at 348.70.

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.

Ansal Hsg. (Daily)

Last Close -- 298.40; Support -- 251, 201; Resistance -- 304, 350

Trading Range: The scrip opened at 286.00, moved up to an intra-day high of 298.40, declined to an intra-day low of 284.60 and closed at 298.40.

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.

Kalindee Rail. (Daily)

Last Close -- 160.15; Support -- 154, 141; Resistance -- 167, 191

Trading Range: The scrip opened at 154.85, moved up to an intra-day high of 160.15, declined to an intra-day low of 153.00 and closed at 160.15.

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.

Fairfield Atlas. (Daily)

Last Close -- 092.50; Support -- 080, 045; Resistance -- 097, 114

Trading Range: The scrip opened at 091.90, moved up to an intra-day high of 092.50, declined to an intra-day low of 090.00 and closed at 092.50.

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.

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 even be having contrary positions in the stocks mentioned above.