Stock picks of the day

The market has remained in a positive state of mind, has come off its intra-day high and has finally ended the day in positive territory. IT, Metals & Oil have ended positive in varying degrees while Banks, FMCG, Healthcare, Capital Goods, Consumer Durables, Auto & PSU's have ended in negative territory. Volume registered a clear decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 13928.33 | Support - 13857, 13723 | Resistance - 13931, 14035

Trading Range - The Sensex opened at 13972.81, moved up to an intra-day high of 14046.52, declined to an intra-day low of 13879.39 and closed at 13928.33.

Review/Outlook - The Sensex has reflected some amount of weakness by not being able to sustain itself at higher levels, has run into resistance from the 14040 level to just about end in positive territory on lower volume. Volatility can be the order of the day; an intra-day downside below the 13879 level seems like a possibility while some support can be expected at lower levels (13884) while an upside could come in only above the 14047 level. The outlook seems to have turned better while resistance comes in at the 14100+ level and support comes in at the 13800 level.

Flat Products. (Daily)

Last Close - 194.70 | Support - 192, 164 | Resistance - 236, 270

Trading Range - The scrip opened at 174.70, moved up to an intra-day high of 194.70, declined to an intra-day low of 174.70 and closed at 194.70.

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.

Cyber Media. (Daily)

Last Close - 100.65 | Support - 096, 084 | Resistance - 112, 130

Trading Range - The scrip opened at 094.00, moved up to an intra-day high of 100.65, declined to an intra-day low of 094.00 and closed at 100.65.

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

Todays Writing. (Daily)

Last Close - 063.35 | Support - 056, 044 | Resistance - 068, 084

Trading Range - The scrip opened at 062.90, moved up to an intra-day high of 063.35, declined to an intra-day low of 060.75 and closed at 063.35.

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

Lyka Labs. (Daily)

Last Close - 040.60 | Support - 038, 031 | Resistance - 042, 058

Trading Range - The scrip opened at 035.50, moved up to an intra-day high of 040.60, declined to an intra-day low of 035.50 and closed at 040.60.

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.

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 even be having contrary positions in the stocks mentioned above.