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

Sensex

Last Close - 17339.31 | Support - 17292, 16964 | Resistance - 17494, 17711

Trading Range - The Sensex opened at 17404.15, moved up to an intra-day high of 17413.81, declined to an intra-day low of 17229.98 and closed at 17339.31.

Review/Outlook - The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has faced selling pressure even at lower 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 17322 level while significant support at lower levels (17205) - would limit the downside and result in a smart recovery. The outlook has turned positive again while resistance comes in at the 18300+ level and support comes in at the 16600 level.

Lkp Mer. Fin

Last Close - 170.25 | Support - 151, 101 | Resistance - 209, 234

Trading Range - The scrip opened at 165.00, moved up to an intra-day high of 174.00, declined to an intra-day low of 164.00 and closed at 170.25.

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.

Denison Hydro

Last Close - 507.50 | Support - 443, 401 | Resistance - 512, 556

Trading Range - The scrip opened at 515.05, moved up to an intra-day high of 540.00, declined to an intra-day low of 505.00 and closed at 507.50.

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.

Oudh Sugar

Last Close - 069.85 | Support - 065, 048 | Resistance - 073, 091

Trading Range - The scrip opened at 065.30, moved up to an intra-day high of 069.85, declined to an intra-day low of 065.00 and closed at 069.85.

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.

Accent Tech

Last Close - 194.55 | Support - 181, 157 | Resistance - 198, 245

Trading Range - The scrip opened at 200.95, moved up to an intra-day high of 200.95, declined to an intra-day low of 191.00 and closed at 194.55.

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.

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.