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

Sensex (Daily)                                                                     

Last Close - 13330.51 | Support - 13146, 12899 | Resistance - 13406, 13554

Trading Range - The Sensex opened at 13360.34, moved up to an intra-day high of 13559.36, declined to an intra-day low of 13269.62 and closed at 13330.51. 

Review/Outlook - The Sensex has had a mixed trading session, has had a negative opening, has moved both ways, has faced selling pressure at higher levels, has come off from its intra - day high and has finally ended in negative territory on lower volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 13319 level while significant support at lower levels (13126) - would limit the downside. The outlook has turned neutral again while resistance comes in at the 14700+ level and support comes in at the 12800 level.  

Era Infra. (Daily)                                                         

Last Close - 570.40 | Support - 529, 492 | Resistance - 582, 627

Trading Range - The scrip opened at 545.00, moved up to an intra-day high of 573.45, declined to an intra-day low of 545.00 and closed at 570.40.

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.    

Walchand Ind. (Daily)                                                 

Last Close - 284.75 | Support - 283, 244 | Resistance - 329, 358

Trading Range - The scrip opened at 281.70, moved up to an intra-day high of 284.75, declined to an intra-day low of 271.25 and closed at 284.75.

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.         

Minda Ind. (Daily)                                              

Last Close - 307.35 | Support - 280, 246 | Resistance - 311, 342

Trading Range - The scrip opened at 299.00, moved up to an intra-day high of 313.50, declined to an intra-day low of 280.10 and closed at 307.35.

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.              

Selan Expl. (Daily)                                                   

Last Close - 216.80 | Support - 202, 167 |  Resistance - 222, 254

Trading Range - The scrip opened at 182.25, moved up to an intra-day high of 216.80, declined to an intra-day low of 182.25 and closed at 216.80.

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.            

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