Stock picks of the day

The market has remained in a positive state of mind, has come off its intra-day low and has finally ended the day in positive territory. Banks, Healthcare, Capital Goods, PSU, Oil, Realty, Metal, Auto & Consumer Durables have ended positive in varying degrees while FMCG & IT have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed better.

Sensex

Last Close - 16739.33 | Support - 16681, 16416 | Resistance - 16964, 17292

Trading Range - The Sensex opened at 16611.41, moved up to an intra-day high of 16778.59, declined to an intra-day low of 16611.41 and closed at 16739.33.

Review/Outlook - The Sensex has had a solid trading session, has had a positive opening, has moved just one way, has faced buying support even at higher levels, has come off from its intra - day low and has finally ended in positive 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 16752 level while significant resistance at higher levels (16820) - would limit the upside making it unsustainable. The outlook has turned positive again while resistance comes in at the 16609+ level and support comes in at the 15300 level.

Vakrangee Soft

Last Close - 238.45 | Support - 232, 207 | Resistance - 280, 311

Trading Range - The scrip opened at 222.85, moved up to an intra-day high of 245.00, declined to an intra-day low of 222.15 and closed at 238.45.

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.

Kaveri Tele

Last Close - 241.65 | Support - 233, 214 | Resistance - 279, 309

Trading Range - The scrip opened at 241.70, moved up to an intra-day high of 244.75, declined to an intra-day low of 231.20 and closed at 241.65.

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.

Bang Overseas

Last Close - 192.80 | Support - 172, 144 | Resistance - 207, 232

Trading Range - The scrip opened at 179.00, moved up to an intra-day high of 193.85, declined to an intra-day low of 177.00 and closed at 192.80.

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.

Rajendra Mech

Last Close - 107.10 | Support - 101, 082 | Resistance - 117, 153

Trading Range - The scrip opened at 103.00, moved up to an intra-day high of 107.10, declined to an intra-day low of 102.20 and closed at 107.10.

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