Stock picks of the day

The market has fallen severely to basically come off its intra-day high and has finally ended the day deep in negative territory. Metals, IT, Consumer Durables, Auto Banks, FMCG, Pharma, Oil, Capital Goods & PSU's have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a nominal decrease (read as turnover) while the undertone seemed weak.

Sensex (Daily)                                                                     

Last Close -11550.69 | Support - 11536, 11453 | Resistance - 11618, 11707

Trading Range - The Sensex opened at 11959.56, moved up to an intra-day high of 11971.60, declined to an intra-day low of 11505.60 and closed at 11550.69.

Review/Outlook - The Sensex has faced tremendous selling pressure to virtually decline from open to close and has collapsed to end sharply in negative territory on marginally lower volume to close below the 11620 level. The outlook is looking unsteady while a further downside below the 11505 level cannot be ruled out but the quantum of yesterday's fall has left enough space for an unsustainable intra-day recovery to unfold.          

Jindal Drilling. (Daily)                                                

Last Close - 319.60 | Support - 318, 273 | Resistance - 354, 429

Trading Range - The scrip opened at 315.90, moved up to an intra-day high of 319.60, declined to an intra-day low of 306.00 and closed at 319.60.

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. 

Ansal Infra. (Daily)                                                 

Last Close - 419.00 | Support - 411, 341 | Resistance - 455, 500

Trading Range - The scrip opened at 444.00, moved up to an intra-day high of 446.95, declined to an intra-day low of 418.50 and closed at 419.00.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Rain Commodities. (Daily)                                        

Last Close - 150.60 | Support - 142, 128 | Resistance - 153, 181

Trading Range - The scrip opened at 161.40, moved up to an intra-day high of 161.40, declined to an intra-day low of 150.60 and closed at 150.60.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.      

Jayshree Tea. (Daily)

Last Close - 135.80 | Support - 107, 082 | Resistance - 144, 175 

Trading Range - The scrip opened at 142.50, moved up to an intra-day high of 144.00, declined to an intra-day low of 135.80 and closed at 135.80.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside 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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