Stock picks of the day

The market has actually moved just one way, has come off its intra-day high and has finally ended the day deep in negative territory. FMCG, Healthcare, IT, Banks, Oil, Metals, Capital Goods, Consumer Durables, Auto & PSU's have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a marginal increase (read as turnover) while the undertone seemed panicky.

Sensex (Daily)

Last Close - 12995.02 | Support - 12925, 12819 | Resistance - 13030, 13135

Trading Range - The Sensex opened at 13413.61, moved up to an intra-day high of 13492.21, declined to an intra-day low of 12801.65 and closed at 12995.02.

Review/Outlook - The Sensex has reflected significant amount of weakness by virtually falling off a cliff and has not only collapsed to end in negative territory but has breached a host of important support levels on marginally higher volume. Volatility can be the order of the day, any recovery this time around seems to be sustainable, a spill over of yesterday's late comeback seems to be on the cards while the worst might just be over for the time being while a strong intra-day upside seems like a distinct possibility.          

GG Dandekar. (Daily)

Last Close - 081.95 | Support - 074, 062 | Resistance - 093, 109

Trading Range - The scrip opened at 106.45, moved up to an intra-day high of 406.45, declined to an intra-day low of 078.00 and closed at 081.95.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards. 

Rajesh Exports. (Daily)

Last Close - 306.10 | Support - 260, 243 | Resistance - 310, 328

Trading Range - The scrip opened at 296.00, moved up to an intra-day high of 307.20, declined to an intra-day low of 286.10 and closed at 306.10.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Abc India. (Daily)

Last Close - 048.75 | Support - 045, 029 | Resistance - 052, 064

Trading Range - The scrip opened at 040.00, moved up to an intra-day high of 048.75, declined to an intra-day low of 040.00 and closed at 048.75.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Shardul Sec. (Daily)

Last Close - 033.95 | Support - 031, 025 | Resistance - 037, 047

Trading Range - The scrip opened at 031.95, moved up to an intra-day high of 035.00, declined to an intra-day low of 031.50 and closed at 033.95.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

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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