Stock picks of the day

The market has remained in a negative state of mind, has come off its intra-day high and has finally ended the day in negative territory. Consumer Durables, Oil, Metals, IT, Banks, FMCG, Healthcare, Capital Goods, Auto & PSU & have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a clear decrease (read as turnover) while the undertone seemed shaky.

Sensex

Last Close - 13908.58 | Support - 13857, 13723 | Resistance - 13931, 14035

Trading Range - The Sensex opened at 14219.25, moved up to an intra-day high of 14219.25, declined to an intra-day low of 13884.53 and closed at 13908.58.

Review/Outlook - The Sensex has reflected some amount of weakness by facing a lot of selling pressure, hasn't been able to sustain itself at higher levels, has come off rather sharply 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 downside below the 13884 level seems like a possibility while strong support can be expected at lower levels (13800 – which could limit the downside) while an upside could come in only above the 14219 level. The outlook seems to have turned slightly shaky while resistance comes in at the 14400+ level and support comes in at the 13800 level.

Asian Elect

Last Close - 533.95 | Support - 498, 452 | Resistance - 550, 575

Trading Range - The scrip opened at 488.90, moved up to an intra-day high of 533.95, declined to an intra-day low of 488.90 and closed at 533.95.

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.

Kirloskar Pn

Last Close - 435.80 | Support - 400, 350 | Resistance - 450, 500

Trading Range - The scrip opened at 400.00, moved up to an intra-day high of 435.80, declined to an intra-day low of 400.00 and closed at 435.80.

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.

Capmhor Allied

Last Close - 091.60 | Support - 089, 072 | Resistance - 095, 120

Trading Range - The scrip opened at 086.00, moved up to an intra-day high of 091.60, declined to an intra-day low of 084.50 and closed at 091.60.

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.

Carnation Nutra

Last Close - 092.30 | Support - 085, 065 | Resistance - 102, 126

Trading Range - The scrip opened at 087.90, moved up to an intra-day high of 092.40, declined to an intra-day low of 083.95 and closed at 092.30.

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.