Stock picks of the day

The market has remained in a weak state of mind, has come off its intra-day high and has finally ended the day in negative territory. Capital Goods, Consumer Durables, Healthcare, IT, Auto, Metals, Realty, Tech, Banks, FMCG, Oil & Psu's have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed shaky.

Sensex (Daily)                                                                     

Last Close - 18602.62 | Support - 18327, 17953 | Resistance - 18833, 19276

Trading Range - The Sensex opened at 19197.57, moved up to an intra-day high of 19218.88, declined to an intra-day low of 18515.30 and closed at 18602.62. 

Review/Outlook - The Sensex has had a mixed trading session, has had a weak opening, has moved one way, has received selling pressure even at lower levels, has 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 downside (seems like a possibility) could come in below the 18590 level while strong support at lower levels (18313) – 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. 

Kothari Prod. (Daily)                                                   

Last Close - 899.60 | Support - 821, 760 | Resistance - 963, 1085

Trading Range - The scrip opened at 856.00, moved up to an intra-day high of 866.60, declined to an intra-day low of 839.65 and closed at 899.60.

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.   

Pudumjee Agro. (Daily)                                                          

Last Close - 082.85 | Support - 069, 048 | Resistance - 100, 125

Trading Range - The scrip opened at 082.85, moved up to an intra-day high of 082.85, declined to an intra-day low of 075.35 and closed at 082.85.

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.   

Acrysil Ltd. (Daily)                                             

Last Close - 068.45 | Support - 061, 047 | Resistance - 075, 100

Trading Range - The scrip opened at 052.50, moved up to an intra-day high of 070.70, declined to an intra-day low of 052.50 and closed at 068.45.

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.       

Surana Corp. (Daily)                                               

Last Close - 081.35 | Support - 071, 060 | Resistance - 100, 125

Trading Range - The scrip opened at 081.60, moved up to an intra-day high of 081.60, declined to an intra-day low of 077.00 and closed at 081.35.

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.