Stock picks of the day

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

Sensex (Daily)

Last Close - 14453.72 | Support - 14325, 14243 | Resistance - 14454, 14524

Trading Range - The Sensex opened at 14459.00, moved up to an intra-day high of 14483.59, declined to an intra-day low of 14348.26 and closed at 14453.72.

Review/Outlook - The Sensex has reflected significant amount of resilience, has had a rather strong opening, has moved both ways, received significant buying support to 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 upside (cannot be ruled out) could come in above the 14484 level while some resistance comes in at higher levels (14535 - which could limit the upside) while a mixed bias cannot be ruled out. The outlook seems to have turned better again while resistance comes in at the 14500+ level and support comes in at the 13800 level.

Global Board. (Daily)

Last Close - 780.15 | Support - 751, 713 | Resistance - 800, 850

Trading Range - The scrip opened at 748.75, moved up to an intra-day high of 780.15, declined to an intra-day low of 746.05 and closed at 780.15.

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.

Lok Housing. (Daily)

Last Close - 190.65 | Support - 178, 147 | Resistance - 197, 255

Trading Range - The scrip opened at 189.00, moved up to an intra-day high of 194.00, declined to an intra-day low of 184.10 and closed at 190.65.

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.

Shyam Tele. (Daily)

Last Close - 109.30 | Support - 098, 072 | Resistance - 110, 134

Trading Range - The scrip opened at 100.00, moved up to an intra-day high of 109.30, declined to an intra-day low of 099.25 and closed at 109.30.

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.

Tricom India. (Daily)

Last Close - 113.40 | Support - 111, 088 | Resistance - 141, 168

Trading Range - The scrip opened at 109.90, moved up to an intra-day high of 113.85, declined to an intra-day low of 106.00 and closed at 113.40.

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.

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.