Stock picks for tiday

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

Volume registered a distinct decrease (read as turnover) while the undertone seemed better.

Sensex (Daily)

Last Close -- 12979.66; Support -- 12925, 12819; Resistance -- 13030, 13135

Trading Range: The Sensex opened at 12862.53, moved up to an intra-day high of 13004.40, declined to an intra-day low of 12832.69, and closed at 12979.66.

Review/Outlook: The Sensex has finally recovered from a slight oversold situation after receiving reasonable support at lower levels, has come off from its intra-day low and has finally ended the day in positive territory on clearly lower volume. Volatility can be the order of the day; an intra-day upside could come in above the 13005 level but resistance at the 13035+ levels could limit the upside while sustainability remains the key issue while the 12800 level is expected to be the trend decider for the time being.

Harrison Malayalam (Daily)

Last Close -- 068.15; Support -- 061, 044; Resistance -- 072, 108

Trading Range: The scrip opened at 065.70, moved up to an intra-day high of 068.15, declined to an intra-day low of 064.50 and closed at 068.15.

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.

GE Cap. Trans (Daily)

Last Close -- 112.05; Support -- 109, 090 Resistance -- 118, 146

Trading Range: The scrip opened at 108.50, moved up to an intra-day high of 112.05, declined to an intra-day low of 108.50 and closed at 112.05.

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.

Steel Strips (Daily)

Last Close -- 176.30; Support -- 159, 130; Resistance -- 195, 225

Trading Range: The scrip opened at 173.00, moved up to an intra-day high of 176.30, declined to an intra-day low of 173.00 and closed at 176.30.

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.

JMC Projects (Daily)

Last Close -- 179.70; Support -- 179, 160; Resistance -- 214, 270

Trading Range: The scrip opened at 172.00, moved up to an intra-day high of 179.70, declined to an intra-day low of 172.00 and closed at 179.70.

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.

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.

DISCLAIMER : While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.

Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.