Stock picks of the day

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

Sensex

Last Close - 14063.81 | Support - 14035, 13931 | Resistance - 14171, 14243

Trading Range - The Sensex opened at 14063.94, moved up to an intra-day high of 14229.22, declined to an intra-day low of 14010.61 and closed at 14063.81.

Review/Outlook - The Sensex has reflected significant amount of weakness, has had a rather positive opening, but has collapsed after facing strong selling pressure to come off from its intra- day high and has finally ended in negative territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (seems like a distinct possibility) could come in above the 14071 level while some resistance at higher levels (14139) - could limit the upside. The outlook seems to have turned shaky again while resistance comes in at the 14700+ level and support comes in at the 14040 level.

Kernex Micro

Last Close - 193.65 | Support - 181, 158 | Resistance - 201, 229

Trading Range - The scrip opened at 185.25, moved up to an intra-day high of 199.00, declined to an intra-day low of 185.00 and closed at 193.65.

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.

Kirloskar Pn

Last Close - 504.55 | Support - 495, 459 | Resistance - 525, 550

Trading Range - The scrip opened at 470.00, moved up to an intra-day high of 504.55, declined to an intra-day low of 470.00 and closed at 504.55.

Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Goldiam Intnl

Last Close - 095.40 | Support - 093, 080 | Resistance - 097, 112

Trading Range - The scrip opened at 092.45, moved up to an intra-day high of 095.40, declined to an intra-day low of 091.50 and closed at 095.40.

Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Amara Raja

Last Close - 411.00 | Support - 402, 380 | Resistance - 424, 477

Trading Range - The scrip opened at 388.00, moved up to an intra-day high of 411.00, declined to an intra-day low of 388.00 and closed at 411.00.

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.