Stock picks of the day

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

Sensex (Daily)                                                                     

Last Close - 19633.36 | Support - 19621, 19276 | Resistance - 19984, 20204

Trading Range - The Sensex opened at 19895.49, moved up to an intra-day high of 19971.44, declined to an intra-day low of 19583.97 and closed at 19633.36. 

Review/Outlook - The Sensex has had a mixed trading session, has had a strong opening, has moved both ways, has received selling pressure at higher levels, has come off from its intra - day high and has finally ended in negative territory on clearly lower volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 19583 level while support at lower levels (19206) – would limit the downside. The outlook has turned bullish again while resistance comes in at the 21200+ level and support comes in at the 18833 level. 

Godrej Ind. (Daily)                                                     

Last Close - 271.05 | Support - 257, 224 | Resistance - 300, 350

Trading Range - The scrip opened at 260.40, moved up to an intra-day high of 271.95, declined to an intra-day low of 257.00 and closed at 271.05.

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

India Glycol. (Daily)                                                    

Last Close - 404.90 | Support - 393, 371 | Resistance - 450, 500

Trading Range - The scrip opened at 404.90, moved up to an intra-day high of 404.90, declined to an intra-day low of 390.90 and closed at 404.90.

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

Ramsarup Ind. (Daily)                                         

Last Close - 238.90 | Support - 227, 190 | Resistance - 246, 300

Trading Range - The scrip opened at 222.00, moved up to an intra-day high of 238.90, declined to an intra-day low of 221.45 and closed at 238.90.

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

Bartonics In. (Daily)                                                 

Last Close - 245.95 | Support - 228, 195 | Resistance - 255, 288

Trading Range - The scrip opened at 226.50, moved up to an intra-day high of 245.95, declined to an intra-day low of 226.50 and closed at 245.95.

Review/Outlook - The scrip has reflected strength by appreciating 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 not only be having positions but could even be having contrary positions in the stocks mentioned above.