Stock picks of the day

The market has had a volatile trading session to basically come off its intra-day low and has finally ended the day in positive territory. Banks, Pharma, Auto, Metal, Consumer Durables, Capital Goods, FMCG, IT, Oil & PSU have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed upbeat.

Last Close - 10876.19 | Support - 10740, 10662 | Resistance - 10884, 10947

Trading Range - The Sensex opened at 10747.13, moved up to an intra-day high of 10891.38, declined to an intra-day low of 10730.13 and closed at 10876.19.

Review/Outlook - The Sensex has rebounded after receiving support at lower levels and has recovered from its intra-day low to end smartly in positive territory on distinctly higher volume - it has also sustained above the 55 Day EMA. The outlook has seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts would seem to suggest an upside above the 10892 level while intra-day resistance comes in at the 10940 – 11000 level.   

Bombay Burmah. (Daily)                                                           

Last Close - 277.75 | Support - 265, 242 | Resistance - 315, 437

Trading Range - The scrip opened at 260.00, moved up to an intra-day high of 277.75, declined to an intra-day low of 260.00 and closed at 277.75.

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. 

Areva. (Daily)                                                 

Last Close - 652.50 | Support - 554, 514 | Resistance - 682, 779

Trading Range - The scrip opened at 636.70, moved up to an intra-day high of 657.00, declined to an intra-day low of 635.00 and closed at 652.50.

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.      

Bhartiya Int. (Daily)                                        

Last Close - 120.80 | Support - 116, 101 | Resistance - 128, 147

Trading Range - The scrip opened at 118.70, moved up to an intra-day high of 120.80, declined to an intra-day low of 118.70 and closed at 120.80.

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.       

Aegis Logis. (Daily)                                             

Last Close - 136.60 | Support - 133, 111 | Resistance - 155, 183

Trading Range - The scrip opened at 133.00, moved up to an intra-day high of 136.60, declined to an intra-day low of 130.50 and closed at 136.60.

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.  
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