Stock picks for today

The market has actually moved just one way, has come off its intra-day low and has finally ended the day in positive territory. Healthcare, IT, Banks, Metals, Capital Goods, Consumer Durables, Auto & PSU's have ended positive in varying degrees while the FMCG & Oil sector have ended in negative territory.

Volume registered a noticeable decrease (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)

Last Close -- 13614.52; Support -- 13576, 13461; Resistance -- 13652, 13723

Trading Range: The Sensex opened at 13545.60, moved up to an intra-day high of 13669.65, declined to an intra-day low of 13545.60 and closed at 13614.52.

Review/Outlook: The Sensex has reflected some amount of relative strength by opening with an upward gap and has recovered to virtually end at the day's highest point in positive territory on clearly lower volume. Volatility can be the order of the day, the positives of the last trading session are expected to spill over to today's trading session indicating the possibility of an intra-day upside while it would be slightly premature to comment on the sustainability factor.

SSI Limited (Daily)

Last Close -- 190.40; Support -- 183, 169; Resistance -- 204, 248

Trading Range: The scrip opened at 181.00, moved up to an intra-day high of 190.40, declined to an intra-day low of 181.00 and closed at 190.40.

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.

BPL Ltd (Daily)

Last Close -- 079.45; Support -- 065, 054; Resistance -- 087, 112

Trading Range: The scrip opened at 075.55, moved up to an intra-day high of 079.45, declined to an intra-day low of 075.55 and closed at 079.45.

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.

Simplex Real (Daily)

Last Close -- 240.50; Support -- 224, 193; Resistance -- 260, 305

Trading Range: The scrip opened at 235.00, moved up to an intra-day high of 240.50, declined to an intra-day low of 226.10 and closed at 240.50.

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.

Sub. Proj (Daily)

Last Close -- 237.00; Support -- 200, 156; Resistance -- 250, 300

Trading Range: The scrip opened at 231.50, moved up to an intra-day high of 237.00, declined to an intra-day low of 228.00 and closed at 237.00.

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.  

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.