Stock picks of the day

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

Sensex (Daily)                                                                     

Last Close - 16275.59 | Support - 15956, 15734 | Resistance - 16308, 16416

Trading Range - The Sensex opened at 16454.75, moved up to an intra-day high of 16506.35, declined to an intra-day low of 16237.92 and closed at 16275.59. 

Review/Outlook - The Sensex has had a weak trading session, has had a positive opening, has moved just one way, has faced selling pressure even at lower levels, has come off from its intra - day high and has finally ended in negative territory on higher volume.

Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 16281 level while significant resistance at higher levels (16420) - would limit the upside. The outlook is turning weak again while resistance comes in at the 17300+ level and support comes in at the 15300 level.  

Sterling Int. (Daily)                                                      

Last Close - 256.90 | Support - 253, 221 | Resistance - 280, 303

Trading Range - The scrip opened at 245.95, moved up to an intra-day high of 257.90, declined to an intra-day low of 245.80 and closed at 256.90.

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.   

Goldst Infra. (Daily)                                                    

Last Close - 064.70 | Support - 059, 042 | Resistance - 070, 091

Trading Range - The scrip opened at 062.10, moved up to an intra-day high of 064.70, declined to an intra-day low of 062.10 and closed at 064.70.

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.   

Jaihind Proj. (Daily)                                            

Last Close - 136.40 | Support - 113, 085 | Resistance - 152, 204

Trading Range - The scrip opened at 136.35, moved up to an intra-day high of 136.40, declined to an intra-day low of 135.45 and closed at 136.40.

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.       

Kiri Dyes. (Daily)                                                    

Last Close - 174.05 | Support - 159, 129 | Resistance - 181, 204

Trading Range - The scrip opened at 174.00, moved up to an intra-day high of 181.50, declined to an intra-day low of 170.05 and closed at 174.05.

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.