Stock picks of the day

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. Banks, FMCG, Healthcare, Capital Goods, Consumer Durables, Auto, PSU & Oil have ended positive in varying degrees while Metals & IT have ended in negative territory. Volume registered a clear increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 14217.77 | Support - 14171, 14035 | Resistance - 14243, 14325

Trading Range - The Sensex opened at 14141.70, moved up to an intra-day high of 14238.29, declined to an intra-day low of 14052.17 and closed at 14217.77.

Review/Outlook - The Sensex has reflected significant amount of strength by staging a smart upmove and has not only managed to sustain itself at higher levels, but has also overcome the 14140 level with consummate ease to end sharply in positive territory on higher volume. Volatility can be the order of the day; an intra-day upside above the 14239 level seems like a possibility while some resistance can be expected at higher levels (14310) while a downside could come in only below the 14052 level. The outlook seems to have turned better while resistance comes in at the 14400+ level and support comes in at the 13800 level.

Goodyear India. (Daily)

Last Close - 178.45 | Support - 168, 149 | Resistance - 198, 220

Trading Range - The scrip opened at 164.15, moved up to an intra-day high of 178.65, declined to an intra-day low of 162.80 and closed at 178.45.

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.

Bombay Burmah. (Daily)

Last Close - 286.70 | Support - 265, 242 | Resistance – 315, 386

Trading Range - The scrip opened at 261.60, moved up to an intra-day high of 286.70, declined to an intra-day low of 261.60 and closed at 286.70.

Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Indian Hume Pipe. (Daily)

Last Close - 449.90 | Support - 438, 384 | Resistance - 479, 530

Trading Range - The scrip opened at 421.35, moved up to an intra-day high of 449.90, declined to an intra-day low of 421.35 and closed at 449.90.

Review/Outlook - The scrip has reflected 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 Infra. (Daily)

Last Close - 284.30 | Support - 258, 220 | Resistance - 290, 364

Trading Range - The scrip opened at 284.30, moved up to an intra-day high of 284.30, declined to an intra-day low of 280.05 and closed at 284.30.

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.

Daily Stock Track          

Scrip	Support	Last Close	Resistance	Trend
ACC	829, 793	832.70	856, 892	Tu
DR. REDDY	689, 669	711.75	712, 733	Sd
HLL	203, 192	211.20	216, 224	Tu
INFOSYS	1962, 1883	2017.90	2061, 2133	Tu
ITC	155, 144	161.75	168, 180	Tu
RIL	1550, 1496	1599.85	1600, 1650	Up
SATYAM	443, 425	466.45	475, 500	Tu
SBI	1135, 1100	1139.10	1166, 1190	Up
T MOTORS	749, 722	758.80	771, 811	Tu
TISCO	570, 543	570.80	593, 617	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 even be having contrary positions in the stocks mentioned above.