Stock picks of the day

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

 Sensex (Daily)                                                                     

Last Close - 12982.88 | Support - 12925, 12819 | Resistance - 13030, 13135

Trading Range - The Sensex opened at 12924.50, moved up to an intra-day high of 13026.85, declined to an intra-day low of 12817.62, and closed at 12982.98.            

Review/Outlook - The Sensex has reflected rather inconclusive movements by remaining almost within the previous two trading session's range after a volatile trading session, has come off its intra-day low and has finally managed to end in positive territory on clearly higher volume. Volatility can be the order of the day, action could come in only above the 13056 level or below the 12817 while the intra-day charts would seem to indicate a clear decline below the aforesaid level while a downward gap cannot be ruled out – a close below the 12800 level would be a major cause for concern.  

Bhushan Steel. (Daily)                                                 

Last Close - 501.45 | Support - 501, 470 | Resistance - 540, 600

Trading Range - The scrip opened at 494.70, moved up to an intra-day high of 502.10, declined to an intra-day low of 485.00 and closed at 501.45.

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. 

Klg Systel. (Daily)                                                

Last Close - 293.10 | Support - 279, 253 | Resistance - 320, 352

Trading Range - The scrip opened at 293.10, moved up to an intra-day high of 293.10, declined to an intra-day low of 286.00 and closed at 293.10.

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. 

Ind. Infoline. (Daily)                                        

Last Close - 322.55 | Support - 306, 268 | Resistance - 347, 383

Trading Range - The scrip opened at 312.65, moved up to an intra-day high of 323.65, declined to an intra-day low of 309.00 and closed at 322.55.

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.  

Peninsula Land. (Daily)                                             

Last Close - 388.65 | Support - 378, 356 | Resistance - 404, 453

Trading Range - The scrip opened at 382.80, moved up to an intra-day high of 388.65, declined to an intra-day low of 375.00 and closed at 388.65.

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.