Stock picks of the day

The market has remained a bit volatile, has moved both ways and has finally ended the day in positive territory. Capital Goods, FMCG, Pharma, Consumer Durables, Auto, IT, Metals and PSU's have ended positive in varying degrees while Banks & Oil sector have ended in negative territory. Volume registered a marginal increase (read as turnover) while the undertone seemed better.

Sensex (Daily)

Last Close - 12454.42 | Support - 12308, 12231 | Resistance - 12461, 12546

Trading Range - The Sensex opened at 12414.66, moved up to an intra-day high of 12485.17, declined to an intra-day low of 12381.29 and closed at 12454.42.

Review/Outlook - The Sensex has reflected strength to post a 101 trading session high and has also managed to close above the 12400 level (recent point of resistance) but also the 12450 level on higher volume. The outlook continues to remain positive indicating the possibility of an intra-day upside especially above the 12485 level while the intra-day downside could be rather limited due to rather solid intra-day support at the 12430 level.            

Taneja Aero. (Daily)

Last Close - 139.70 | Support - 130, 098 | Resistance - 151, 184

Trading Range - The scrip opened at 136.90, moved up to an intra-day high of 140.95, declined to an intra-day low of 136.00 and closed at 139.70.

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. 

GTC Ind. (Daily)

Last Close - 157.75 | Support - 144, 121 | Resistance - 171, 216

Trading Range - The scrip opened at 155.00, moved up to an intra-day high of 157.75, declined to an intra-day low of 147.00 and closed at 157.75.

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.

GMR Ind. (Daily)

Last Close - 160.85 | Support - 153, 136 | Resistance - 178, 215

Trading Range - The scrip opened at 155.00, moved up to an intra-day high of 160.85, declined to an intra-day low of 155.00 and closed at 160.85.

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.

Rel. Ind. Infr. (Daily)

Last Close - 522.50 | Support - 505, 449 | Resistance - 548, 689

Trading Range - The scrip opened at 499.70, moved up to an intra-day high of 522.50, declined to an intra-day low of 499.00 and closed at 522.50.

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.

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.