Stock tips for today

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. Metal, Oil, PSU, Realty, Consumer Durables, Banks, Auto, FMCG, Capital Goods & Healthcare have ended negative in varying degrees while IT has ended in positive territory.

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

Sensex (Daily)

Last Close | 17617.60; Support | 17494, 17361; Resistance | 17711, 17953

Trading Range: The Sensex opened at 17991.29, moved up to an intra-day high of 17991.29, declined to an intra-day low of 17505.56 and closed at 17617.60.

Review/Outlook: The Sensex has had a weak trading session, has had a negative opening, has moved just one way, has received selling pressure even at lower levels, has come off from its intra - day high and has finally ended in negative territory on lower volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 17642 level while significant resistance at higher levels (17901) | would limit the upside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 16200 level.

Madhucon Proj. (Daily)

Last Close | 675.90; Support | 646, 562; Resistance | 714, 780

Trading Range: The scrip opened at 679.90, moved up to an intra-day high of 689.95, declined to an intra-day low of 650.00 and closed at 675.90.

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.

All Cargo. (Daily)

Last Close | 772.50; Support | 735, 666; Resistance | 819, 974

Trading Range: The scrip opened at 735.40, moved up to an intra-day high of 780.00, declined to an intra-day low of 735.40 and closed at 772.50.

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.

Guj. Nre Coke. (Daily)

Last Close | 156.00; Support | 128, 093; Resistance | 165, 193

Trading Range: The scrip opened at 135.00, moved up to an intra-day high of 158.70, declined to an intra-day low of 135.00 and closed at 156.00.

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.

Bank of Raj. (Daily)

Last Close | 156.05; Support | 139, 097; Resistance | 171, 201

Trading Range: The scrip opened at 148.55, moved up to an intra-day high of 159.10, declined to an intra-day low of 148.35 and closed at 156.05.

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.