Stock picks of the day

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

Sensex (Daily)                                                                     

Last Close - 16347.95 | Support - 16300, 16100 | Resistance - 16500, 16700

Trading Range - The Sensex opened at 16341.55, moved up to an intra-day high of 16415.88, declined to an intra-day low of 16261.36 and closed at 16347.95. 

Review/Outlook - The Sensex has had a mixed trading session, has had a strong opening, has appreciated after receiving buying support even at higher levels, has 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 downside (seems like a possibility) could come in below the 16301 level while support at lower levels (16200) – would limit the downside. The outlook has turned bullish again while resistance comes in at the 16800+ level and support comes in at the 15350 level. 

Hindoostan Spg. (Daily)                                                          

Last Close - 078.90 | Support - 071, 054 | Resistance - 091, 112

Trading Range - The scrip opened at 073.15, moved up to an intra-day high of 078.90, declined to an intra-day low of 071.40 and closed at 078.90.

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.   

Swan Mills. (Daily)                                                     

Last Close - 110.00 | Support - 108, 071 | Resistance - 126, 150

Trading Range - The scrip opened at 099.90, moved up to an intra-day high of 110.00, declined to an intra-day low of 097.10 and closed at 110.00.

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.  

Cravatex Ltd. (Daily)                                          

Last Close - 165.00 | Support - 139, 111 | Resistance - 179, 210

Trading Range - The scrip opened at 151.00, moved up to an intra-day high of 165.25, declined to an intra-day low of 151.00 and closed at 165.00.

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.     

Kamla Dial. (Daily)                                                  

Last Close - 097.05 | Support - 090, 074 | Resistance - 102, 125

Trading Range - The scrip opened at 096.90, moved up to an intra-day high of 097.35, declined to an intra-day low of 093.00 and closed at 097.05.

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.    

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.