Stock picks of the day

The market has remained in a mixed state of mind, has come off its intra-day low and has finally ended the day in positive territory. Consumer Durables, Banks, Healthcare, Capital Goods, Metal, Oil, PSU, Realty, IT, Auto & FMCG have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed bullish.

Sensex

Last Close - 17806.19 | Support - 17711, 17494 | Resistance - 17983, 18319

Trading Range - The Sensex opened at 17799.56, moved up to an intra-day high of 17860.10, declined to an intra-day low of 17678.74 and closed at 17806.19.

Review/Outlook - The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has received buying support at lower 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 distinct possibility) could come in above the 17811 level while significant resistance at higher levels (17960) - would limit the upside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 16200 level.

Madhucon Proj

Last Close - 674.35 | Support - 646, 562 | Resistance - 714, 780

Trading Range - The scrip opened at 668.30, moved up to an intra-day high of 689.95, declined to an intra-day low of 666.40 and closed at 674.35.

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.

Rdb Industries

Last Close - 167.65 | Support - 161, 144 | Resistance - 187, 212

Trading Range - The scrip opened at 160.55, moved up to an intra-day high of 167.65, declined to an intra-day low of 160.55 and closed at 167.65.

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.

Prakash Ind

Last Close - 262.80 | Support - 259, 232 | Resistance - 301, 352

Trading Range - The scrip opened at 265.50, moved up to an intra-day high of 270.15, declined to an intra-day low of 260.00 and closed at 262.80.

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.

Accent Tech

Last Close - 194.85 | Support - 188, 159 | Resistance - 205, 244

Trading Range - The scrip opened at 186.00, moved up to an intra-day high of 194.85, declined to an intra-day low of 181.50 and closed at 194.85.

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.