Stock picks for today

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

Sensex (Daily)

Last Close -- 12380.74; Support -- 12308, 12231; Resistance -- 12461, 12546

Trading Range: The Sensex opened at 12388.66, moved up to an intra-day high of 12431.79, declined to an intra-day low of 12340.17 and closed at 12380.74.

Review/Outlook: The Sensex has run into some amount of selling pressure at 12400+ levels to virtually give up most of its gains but has still ended the day in positive territory on distinctly lower volume. The movements could remain slightly volatile today with just a mild downward bias creeping in but with strong intra-day support coming in just below the 12339 level, the decline if any could be rather limited in nature while scrip specific movements could be the order of the day.

Taneja Aero. (Daily)

Last Close -- 134.25; Support -- 130, 098; Resistance -- 151, 184

Trading Range: The scrip opened at 130.00, moved up to an intra-day high of 134.25, declined to an intra-day low of 130.00 and closed at 134.25.

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.

Ratnamani Metal. (Daily)

Last Close -- 413.35; Support -- 399, 365; Resistance -- 421, 498

Trading Range: The scrip opened at 395.00, moved up to an intra-day high of 413.35, declined to an intra-day low of 395.00 and closed at 413.35.

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.

Mather & Platt. (Daily)

Last Close -- 133.35; Support -- 126, 087; Resistance -- 140, 170

Trading Range: The scrip opened at 127.00, moved up to an intra-day high of 133.35, declined to an intra-day low of 127.00 and closed at 133.35.

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.

Uttam Sugar. (Daily)

Last Close -- 195.15; Support -- 183, 123 ; Resistance -- 205, 247

Trading Range: The scrip opened at 179.00, moved up to an intra-day high of 195.15, declined to an intra-day low of 177.35 and closed at 195.15.

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.

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.