Stock picks of the day

The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day sharply in negative territory. Auto, consumer durables, banks, capital goods, PSU, metal, FMCG, oil, IT, realty and healthcare have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed mixed.

Sensex (Daily)

Last Close - 15343.12 | Support - 15330, 15037 | Resistance - 15734, 15956

Trading Range - The Sensex opened at 15896.09, moved up to an intra-day high of 15896.09, declined to an intra-day low of 15303.04 and closed at 15343.12. 

Review/Outlook - The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has faced selling pressure at higher levels, has come off from its intra - day high and has finally ended sharply in negative territory on lower volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 15359 level while significant resistance at higher levels (15554) – would limit the upside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 14700 level.  

XL Tele. (Daily)                                                          

Last Close - 225.00 |  Support - 209, 176 | Resistance - 227, 260

Trading Range - The scrip opened at 218.00, moved up to an intra-day high of 225.00, declined to an intra-day low of 213.00 and closed at 225.00.

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.   

Shyam Tele. (Daily) 

Last Close - 079.35 | Support - 074, 059 | Resistance - 093, 118

Trading Range - The scrip opened at 074.40, moved up to an intra-day high of 079.35, declined to an intra-day low of 074.00 and closed at 079.35.

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.   

Khoday India. (Daily)                                       

Last Close - 120.95 | Support - 104, 083 | Resistance - 137, 178

Trading Range - The scrip opened at 120.95, moved up to an intra-day high of 120.95, declined to an intra-day low of 110.25 and closed at 120.95.

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.       

Asian Oil. (Daily) 

Last Close - 174.55 | Support - 148, 110 | Resistance - 188, 254

Trading Range - The scrip opened at 172.00, moved up to an intra-day high of 176.05, declined to an intra-day low of 159.35 and closed at 174.55.

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.     

Daily Stock Track           

Scrip	Support	Last Close	Resistance	Trend
ACC	829, 778	831.30	856, 892	Tu
DR. REDDY	579, 530	599.20	610, 645	Up
HUL	240, 224	241.55	252, 272	Up
INFOSYS	1457, 1425	1482.90	1510, 1667	Tu
ITC	193, 180	200.80	213, 227	Sd
RIL	2309, 2274	2322.20	2426, 2539	Tu
SATYAM	425, 406	425.25	443, 475	Tu
SBI	1539, 1472	1605.35	1624, 1760	Sd
T MOTORS	600, 567	613.65	635, 670	Td
T STEEL	642, 614	660.70	670, 695	Sd

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 not only be having positions but could even be having contrary positions in the stocks mentioned above.