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

Sensex (Daily)

Last Close - 13965.86 | Support - 13931, 13857 | Resistance - 14035, 14171

Trading Range - The Sensex opened at 13954.41, moved up to an intra-day high of 14026.02, declined to an intra-day low of 13924.02 and closed at 13965.86.

Review/Outlook - The Sensex has reflected some minor weakness and despite a strong opening, has received significant selling pressure to give up some of its gains to come off from its intra-day high and has finally ended in positive territory on lower volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 13924 level while some support comes in at lower levels (13864 – which could limit the downside) while a mixed bias cannot be ruled out. The outlook seems to be turning better again while resistance comes in at the 14400+ level and support comes in at the 13600 level.

Ansal Infra. (Daily)

Last Close - 337.50 | Support - 290, 258 | Resistance - 364, 408

Trading Range - The scrip opened at 327.70, moved up to an intra-day high of 343.00, declined to an intra-day low of 317.00 and closed at 337.50.

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.

Sh. Ashtavinayak. (Daily)

Last Close - 181.40 | Support - 177, 157 | Resistance - 228, 269

Trading Range - The scrip opened at 179.10, moved up to an intra-day high of 183.50, declined to an intra-day low of 172.00 and closed at 181.40.

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.

Global Board. (Daily)

Last Close - 700.00 | Support - 680, 642 | Resistance - 724, 750

Trading Range - The scrip opened at 678.00, moved up to an intra-day high of 705.90, declined to an intra-day low of 670.10 and closed at 700.00.

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.

Ind. Inv. Trust. (Daily)

Last Close - 103.25 | Support - 089, 060 | Resistance - 105, 124

Trading Range - The scrip opened at 095.90, moved up to an intra-day high of 103.50, declined to an intra-day low of 095.90 and closed at 103.25.

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.

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.