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. Capital Goods, FMCG, Healthcare, Auto, Banks, Metals, PSU, Consumer Durables & Oil have ended positive in varying degrees while the IT sector has ended in negative territory. Volume registered a sharp decrease (read as turnover) while the undertone seemed shaky.

Sensex

Last Close - 14427.55 | Support - 14325, 14243 | Resistance - 14454, 14524

Trading Range - The Sensex opened at 14512.28, moved up to an intra-day high of 14680.09, declined to an intra-day low of 14406.91 and closed at 14427.55.

Review/Outlook - The Sensex has had a solid trading session, has had a strong opening, has depreciated after facing selling pressure at higher levels, has come off from its intra - day high and has finally ended in positive territory on clearly lower volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 14461 level while resistance at higher levels (14535) - 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.

Goldstone Tech

Last Close - 123.65 | Support - 109, 086 | Resistance - 126, 145

Trading Range - The scrip opened at 121.00, moved up to an intra-day high of 123.65, declined to an intra-day low of 120.00 and closed at 123.65.

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.

Karuturi Netw

Last Close - 184.60 | Support - 166, 138 | Resistance - 194, 230

Trading Range - The scrip opened at 183.50, moved up to an intra-day high of 184.60, declined to an intra-day low of 181.20 and closed at 184.60.

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 - 091.15 | Support - 085, 071 | Resistance - 101, 124

Trading Range - The scrip opened at 089.55, moved up to an intra-day high of 091.70, declined to an intra-day low of 089.00 and closed at 091.15.

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.

Ok Play India

Last Close - 099.10 | Support - 083, 063 | Resistance - 106, 129

Trading Range - The scrip opened at 094.95, moved up to an intra-day high of 099.10, declined to an intra-day low of 091.00 and closed at 099.10.

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.

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.