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

Sensex (Daily)                                                                     

Last Close - 19079.64 | Support - 18833, 18327 | Resistance - 19276, 19621

Trading Range - The Sensex opened at 19339.14, moved up to an intra-day high of 19375.07, declined to an intra-day low of 19009.35 and closed at 19079.64. 

Review/Outlook - The Sensex has had a mixed trading session, has had a good opening, has moved both ways, has faced 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 upside (seems like a possibility) could come in above the 19028 level while resistance at higher levels (19206) – would limit the upside. The outlook has turned positive again while resistance comes in at the 21200+ level and support comes in at the 18833 level.  

Abg Heavy Ind. (Daily)                                               

Last Close - 611.95 | Support - 544, 492 | Resistance - 632, 700

Trading Range - The scrip opened at 580.00, moved up to an intra-day high of 611.95, declined to an intra-day low of 560.00 and closed at 611.95.

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.   

Radha Madhav (Daily)                                               

Last Close - 119.35 | Support - 104, 081 | Resistance - 123, 151

Trading Range - The scrip opened at 109.50, moved up to an intra-day high of 119.35, declined to an intra-day low of 109.00 and closed at 119.35.

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.   

Sanwaria Agro. (Daily)                                       

Last Close - 115.60 | Support - 107, 086 | Resistance - 125, 150

Trading Range - The scrip opened at 111.00, moved up to an intra-day high of 116.05, declined to an intra-day low of 111.00 and closed at 115.60.

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.        

Essar Shipp. (Daily)                                                 

Last Close - 112.70 | Support - 102, 086 | Resistance - 125, 175

Trading Range - The scrip opened at 110.90, moved up to an intra-day high of 112.70, declined to an intra-day low of 109.00 and closed at 112.70.

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.