Stock picks of the day

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

Sensex

Last Close - 14141.52 | Support - 14035, 13931 | Resistance - 14171, 14243

Trading Range - The Sensex opened at 14309.37, moved up to an intra-day high of 14318.56, declined to an intra-day low of 13779.88 and closed at 14141.52.

Review/Outlook - The Sensex has had a weak trading session, has had a weak opening, has depreciated after facing selling pressure even at lower levels, but has come off from its intra - day low and has finally ended in negative territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 14180 level while resistance at higher levels (14372) - would limit the upside. The outlook seems to have turned weak again while resistance comes in at the 16000+ level and support comes in at the 14150 level.

Speciality Papers

Last Close - 070.20 | Support - 065, 053 | Resistance - 079, 088

Trading Range - The scrip opened at 065.00, moved up to an intra-day high of 070.20, declined to an intra-day low of 064.20 and closed at 070.20.

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.

Raipur Alloys

Last Close - 274.10 | Support - 259, 238 | Resistance - 285, 310

Trading Range - The scrip opened at 272.90, moved up to an intra-day high of 277.80, declined to an intra-day low of 256.25 and closed at 274.10.

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.

Artefact Proj

Last Close - 090.95 | Support - 085, 071 | Resistance - 101, 124

Trading Range - The scrip opened at 089.95, moved up to an intra-day high of 092.20, declined to an intra-day low of 086.00 and closed at 090.95.

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.

Accent Tech

Last Close - 252.95 | Support - 250, 220 | Resistance - 300, 350

Trading Range - The scrip opened at 243.80, moved up to an intra-day high of 252.95, declined to an intra-day low of 229.95 and closed at 252.95.

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.

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.

Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.