Stock picks of the day

The market has actually moved with an upward gap, has come off its intra-day low and has finally ended the day in positive territory. Banks, Oil, Consumer Durables, FMCG, Metals, PSU, Capital Goods, Healthcare, IT & Auto 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.

Sensex

Last Close - 14056.53 | Support - 14035, 13931 | Resistance - 14100, 14200

Trading Range - The Sensex opened at 13729.07, moved up to an intra-day high of 14070.88, declined to an intra-day low of 13729.07 and closed at 14056.53.

Review/Outlook - The Sensex has reflected some amount of strength by moving up virtually one way in a frenetic trading session with movement basically in an upward direction to come off sharply from its intra-day low to finally end in positive territory on distinctly higher volume. Volatility can be the order of the day, the positives of the last trading session are expected to spill over to today's trading session indicating the possibility of a further intra-day upside especially above the 14071 level while support comes in at the 13978 level.      

Phillips Carbon

Last Close - 130.10 | Support - 126, 102 | Resistance - 139, 160

Trading Range - The scrip opened at 126.35, moved up to an intra-day high of 130.10, declined to an intra-day low of 125.00 and closed at 130.10.

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. 

Tulip IT

Last Close - 627.55 | Support - 600, 537 | Resistance - 650, 700

Trading Range - The scrip opened at 610.20, moved up to an intra-day high of 629.35, declined to an intra-day low of 603.50 and closed at 627.55.

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.

Axon Inf

Last Close - 155.40 | Support - 150, 131 | Resistance - 168, 200

Trading Range - The scrip opened at 150.00, moved up to an intra-day high of 155.40, declined to an intra-day low of 150.00 and closed at 155.40.

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.

Zuari Ind

Last Close - 236.75 | Support - 215, 179 | Resistance - 272, 315

Trading Range - The scrip opened at 232.25, moved up to an intra-day high of 245.00, declined to an intra-day low of 232.25 and closed at 236.75.

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.

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.

Chat with market expert Pranav Sanghavi every Tuesday