Stock picks of the day

The market has remained in a mixed state of mind, has come off its intra-day low and has finally ended the day in positive territory. PSU, Healthcare, Auto, Oil, IT & FMCG have ended positive in varying degrees while Banks, Capital Goods, Consumer Durables & Metal have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 15776.31 | Support - 15773, 15683 | Resistance - 15868, 15900

Trading Range - The Sensex opened at 15768.28, moved up to an intra-day high of 15812.27, declined to an intra-day low of 15654.40 and closed at 15776.31.

Review/Outlook - The Sensex has had a mixed trading session, has had a decent opening, has depreciated after facing selling pressure at higher levels, but has come off from its intra - day low and has finally ended in positive territory on clearly lower volume. Volatility can be the order of the day; an intra-day downside (seems like a formality) could come in below the 15742 level while some support at lower levels (15440) - could limit the downside. The outlook seems to have turned better again while resistance comes in at the 16000+ level and support comes in at the 14800 level.

Patel Engg. (Daily)

Last Close - 465.50 | Support - 442, 422 | Resistance - 473, 494

Trading Range - The scrip opened at 470.00, moved up to an intra-day high of 475.00, declined to an intra-day low of 455.00 and closed at 465.50.

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.

Pfc. (Daily)

Last Close - 184.65 | Support - 164, 140 | Resistance - 191, 206

Trading Range - The scrip opened at 189.80, moved up to an intra-day high of 191.00, declined to an intra-day low of 183.50 and closed at 184.65.

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.

Rnrl. (Daily)

Last Close - 042.40 | Support - 041, 032 | Resistance - 044, 052

Trading Range - The scrip opened at 042.70, moved up to an intra-day high of 043.35, declined to an intra-day low of 042.10 and closed at 042.40.

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.

Vishal Retail. (Daily)

Last Close - 708.35 | Support - 668, 640 | Resistance - 727, 756

Trading Range - The scrip opened at 698.00, moved up to an intra-day high of 718.50, declined to an intra-day low of 691.00 and closed at 708.35.

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.