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, PSU & Capital Goods have ended positive in varying degrees while FMCG, IT, Realty, Tech, Consumer Durables, Healthcare, Auto, Oil & Metals have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed shaky.

Sensex (Daily)                                                                     

Last Close - 19724.35 | Support - 19621, 19276 | Resistance - 20000, 20200

Trading Range - The Sensex opened at 20130.00, moved up to an intra-day high of 20204.00, declined to an intra-day low of 19634.47 and closed at 19724.35. 

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 higher volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 19634 level while support at lower levels (19276) – would limit the downside. The outlook has turned bullish again while resistance comes in at the 21200+ level and support comes in at the 16800 level. 

Jai Bala Ind. (Daily)                                                    

Last Close - 326.20 | Support -311, 279 | Resistance - 329, 375

Trading Range - The scrip opened at 326.20, moved up to an intra-day high of 326.20, declined to an intra-day low of 321.00 and closed at 326.20.

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.   

Anuh Pharma. (Daily)                                                 

Last Close - 331.25 | Support - 310, 284 | Resistance - 355, 415

Trading Range - The scrip opened at 290.00, moved up to an intra-day high of 331.25, declined to an intra-day low of 280.00 and closed at 331.25.

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.   

Rishi Laser. (Daily)                                             

Last Close - 143.75 | Support -136, 101 | Resistance -175, 200

Trading Range -The scrip opened at 143.75, moved up to an intra-day high of 143.75, declined to an intra-day low of 136.00 and closed at 143.75.

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.        

Asian Oil. (Daily)                                                     

Last Close -137.15 | Support -129, 108 | Resistance -148, 175

Trading Range - The scrip opened at 136.45, moved up to an intra-day high of 137.15, declined to an intra-day low of 130.05 and closed at 137.15.

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.