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, FMCG, Auto, Metals, PSU, Banks, Healthcare, Oil, Realty & IT have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed panicky.

Sensex (Daily)                                                                     

Last Close - 17605.35 | Support - 17494, 17361 | Resistance - 17953, 18319

Trading Range - The Sensex opened at 18919.57, moved up to an intra-day high of 18919.57, declined to an intra-day low of 16951.50 and closed at 17605.35. 

Review/Outlook - The Sensex has had a weak trading session, has had a negative opening, has moved just one way, has faced selling pressure even at lower levels, has come off from its intra - day high and has finally ended sharply in negative territory on higher volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 17699 level while significant support at lower levels (17000) – would limit the downside. The outlook has turned negative again while resistance comes in at the 21200+ level and support comes in at the 17292 level.  

Kirl. Bros. (Daily)                                                        

Last Close - 411.90 | Support - 407, 370 | Resistance - 429, 454

Trading Range - The scrip opened at 395.00, moved up to an intra-day high of 430.00, declined to an intra-day low of 360.10 and closed at 411.90.

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.   

Deccan Chron. (Daily)                                                

Last Close - 199.65 | Support - 195, 164 | Resistance - 211, 235

Trading Range - The scrip opened at 209.00, moved up to an intra-day high of 211.00, declined to an intra-day low of 185.05 and closed at 199.65.

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.   

Satyam Comp. (Daily)                                        

Last Close - 371.40 | Support - 364, 331 | Resistance - 391, 433

Trading Range - The scrip opened at 374.20, moved up to an intra-day high of 391.00, declined to an intra-day low of 330.00 and closed at 371.40.

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.       

Bilt. (Daily)                                                  

Last Close - 143.00 | Support - 141, 123 | Resistance - 153, 181

Trading Range - The scrip opened at 151.50, moved up to an intra-day high of 163.00, declined to an intra-day low of 131.00 and closed at 143.00.

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.     

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.

DISCLAIMER : While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.

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.