Stock picks of the day

The market has remained a volatile, has moved just one way and has finally ended the day in positive territory. Banks, Capital Goods, IT, Oil, FMCG, Consumer Durables, Healthcare and PSU's have ended positive in varying degrees while the Auto and Metal sector have ended in negative territory. Volume registered a sharp increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily) 

Last Close - 12736.42 | Support - 12622, 12546 | Resistance - 12800, 12900

Trading Range - The Sensex opened at 12632.62, moved up to an intra-day high of 12756.23, declined to an intra-day low of 12632.62 and closed at 12736.42.

Review/Outlook - The Sensex has reflected strength to appreciate with an upward gap on the daily chart and has not only posted a fresh all time high but has also given an all time high closing to end sharply in positive territory on high volume. The advance-decline line is negative indicating a rather selective upmove while an intra-day upside above the 12756 level cannot be ruled out and intra-day support comes in at the 12711 level.                    

GMR Ind. (Daily)

Last Close - 236.70 | Support - 216, 192 | Resistance - 257, 310

Trading Range - The scrip opened at 232.70, moved up to an intra-day high of 236.70, declined to an intra-day low of 231.80 and closed at 236.70.

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. 

Gtc Ind. (Daily)

Last Close - 196.55 | Support - 195, 164 | Resistance - 223, 249

Trading Range - The scrip opened at 182.90, moved up to an intra-day high of 196.55, declined to an intra-day low of 185.90 and closed at 186.55.

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.

Ansal Infra. (Daily)

Last Close - 609.10 | Support - 568, 500 | Resistance - 620, 650

Trading Range - The scrip opened at 588.40, moved up to an intra-day high of 609.10, declined to an intra-day low of 588.40 and closed at 609.10.

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.

Godrej Ind. (Daily)

Last Close - 115.95 | Support - 110, 088 | Resistance - 120, 145

Trading Range - The scrip opened at 115.95, moved up to an intra-day high of 115.95, declined to an intra-day low of 110.00 and closed at 115.95.

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.

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