Stocks picks of the day

The market has staged a smart recovery from lower levels to end sharply in positive territory. Banks, Capital Goods, Consumer Durables, FMCG, IT and PSUs all ended positive in varying degrees while it was the Pharma sector which ended negative. Volume registered a mild decrease (read as turnover) while the undertone seemed bullish.

Sensex (Daily) --- Last Close -- 8068.95
Support -- 7983, 7843 -- Resistance -- 8083, 8144

Trading Range: The Sensex opened at 7930.50, moved up to an intra-day high of 8080.77, declined to an intra-day low of 7901.14 and closed at 8068.95.

Review/Outlook: The Sensex has virtually moved up from open to close but has still remained within the previous day's trading range. In case of an early upside, resistance at higher levels could put doubts on the sustainability.

PNB (Daily)                                                 Last Close -- 399.65
Support -- 398, 368  -- Resistance -- 420, 445

Trading Range: The scrip opened at 398.00, moved up to an intra-day high of 401.70, declined to an intra-day low of 385.50 and closed at 399.65.

Review/Outlook: The scrip has reflected strength by recovering from lower levels and with the indicators looking positive, a further upside seems to be on the cards. 

ONGC (Daily)                                                                         Last Close -- 954.55
Support -- 920, 867 -- Resistance -- 985, 1020

Trading Range: The scrip opened at 941.00, moved up to an intra-day high of 958.00, declined to an intra-day low of 925.00 and closed at 954.55.

Review/Outlook: The scrip has reflected strength by staging a bounce back and with the indicators looking positive, a further upside seems to be on the cards. 

Transgene Bio. (Daily)                                                           Last Close -- 071.60
Support -- 067, 047 -- Resistance -- 086, 106

Trading Range: The scrip opened at 070.00, moved up to an intra-day high of 073.00, declined to an intra-day low of 063.70 and closed at 071.60.

Review/Outlook: The scrip has reflected strength by recovering after taking support on the 67 level and with the indicators looking positive, a further upside seems to be on the cards.  

STC (Daily)                                                          Last Close -- 136.50
Support -- 132, 120       -- Resistance -- 145, 155

Trading Range: The scrip opened at 136.00, moved up to an intra-day high of 138.80, declined to an intra-day low of 130.10 and closed at 136.50.

Review/Outlook: The scrip has reflected strength by taking support on the 132 level 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.

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Sebi Disclosure: The author is an active market participant and could be having positions in the stocks mentioned above.