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, Healthcare, Consumer Durables, IT & Oil have ended positive in varying degrees while the Auto, Metal & PSU's have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed bullish.

Sensex

Last Close - 14303.41 | Support - 14243, 14171 | Resistance - 14325, 14454

Trading Range - The Sensex opened at 14261.47, moved up to an intra-day high of 14337.06, declined to an intra-day low of 14201.01 and closed at 14303.41.

Review/Outlook - The Sensex has reflected significant amount of resilience and despite an intra-day decline, has received significant buying support to move up constructively to come off from its intra-day low and has finally ended in positive territory on clearly lower volume. Volatility can be the order of the day; an intra-day upside (cannot be ruled out) could come in above the 14337 level while some resistance comes in at higher levels (14380 - which could limit the upside) while a mixed bias cannot be ruled out. The outlook seems to have turned better again while resistance comes in at the 14400+ level and support comes in at the 13800 level.

GTC Ind

Last Close - 182.30 | Support - 174, 145 | Resistance - 188, 207

Trading Range - The scrip opened at 175.00, moved up to an intra-day high of 182.30, declined to an intra-day low of 175.00 and closed at 182.30.

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.

Ruby Mills

Last Close - 546.95 | Support - 499, 430 | Resistance - 568, 657

Trading Range - The scrip opened at 553.80, moved up to an intra-day high of 554.75, declined to an intra-day low of 535.00 and closed at 546.95.

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.

Saregama Ind

Last Close - 253.20 | Support - 235, 215 | Resistance - 258, 299

Trading Range - The scrip opened at 248.95, moved up to an intra-day high of 253.20, declined to an intra-day low of 238.00 and closed at 253.20.

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.

Shreeram

Last Close - 302.45 | Support - 274, 223 | Resistance - 319, 359

Trading Range - The scrip opened at 299.00, moved up to an intra-day high of 302.45, declined to an intra-day low of 299.00 and closed at 302.45.

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.

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