Stock picks of the day

The market has remained in a positive frame of mind, has come off its intra-day low and has finally ended the day in positive territory. Banks, Capital Goods, Healthcare, FMCG, IT, Metal, PSU, Consumer Durables, Auto & Oil have ended positive in varying degrees while the no sector has ended in negative territory. Volume registered a distinct increase (read as turnover) while the undertone seemed upbeat.

Sensex

Last Close - 13308.03 | Support - 13296, 13135 | Resistance - 13390, 13461

Trading Range - The Sensex opened at 13071.81, moved up to an intra-day high of 13326.24, declined to an intra-day low of 13071.81, and closed at 13308.03.

Review/Outlook - The Sensex has reflected a significant amount of strength by appreciating with an upward gap to move up virtually from open to close, has come off from its intra-day low and has finally ended the day in positive territory on clearly higher volume. Volatility can be the order of the day; intra-day upside cannot be ruled out especially above the 13327 level but sustainability above the 13390 level seems like a debatable issue indicating the possibility of a late decline in case of early gains.

G G Dandekar

Last Close - 087.90 | Support - 085, 070 | Resistance - 090, 106

Trading Range - The scrip opened at 081.85, moved up to an intra-day high of 090.00, declined to an intra-day low of 080.00 and closed at 087.90.

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.

Goodyear Ind

Last Close - 157.55 | Support - 149, 129 | Resistance - 168, 198

Trading Range - The scrip opened at 146.00, moved up to an intra-day high of 158.55, declined to an intra-day low of 145.35 and closed at 157.55.

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.

Nelco Limited

Last Close - 089.10 | Support - 086, 077 | Resistance - 100, 121

Trading Range - The scrip opened at 088.00, moved up to an intra-day high of 089.10, declined to an intra-day low of 088.00 and closed at 089.10.

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.

Garware Off

Last Close - 182.45 | Support - 170, 139 | Resistance - 188, 230

Trading Range - The scrip opened at 180.00, moved up to an intra-day high of 182.45, declined to an intra-day low of 180.00 and closed at 182.45.

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.