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

Sensex (Daily)                                                                      

Last Close - 16316.26 | Support - 16308, 15956 | Resistance - 16416, 16681

Trading Range - The Sensex opened at 16666.03, moved up to an intra-day high of 16666.03, declined to an intra-day low of 16196.02 and closed at 16316.26. 

Review/Outlook - The Sensex has had a mixed trading session, has had a positive 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 higher volume.

Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 16331 level while significant resistance at higher levels (16600) - 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 - 280.00 | Support - 253, 221 |  Resistance - 280, 303

Trading Range - The scrip opened at 256.00, moved up to an intra-day high of 282.45, declined to an intra-day low of 256.00 and closed at 280.00.

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 - 071.25 | Support - 070, 059 | Resistance - 091, 122

Trading Range - The scrip opened at 071.25, moved up to an intra-day high of 071.25, declined to an intra-day low of 070.10 and closed at 071.25.

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.   

Int'nl Comb. (Daily)                                               

Last Close - 406.55 | Support - 387, 345 | Resistance - 430, 488

Trading Range - The scrip opened at 401.25, moved up to an intra-day high of 420.00, declined to an intra-day low of 401.25 and closed at 406.55.

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.       

Rasoya Proteins. (Daily)                                            

Last Close - 064.65 | Support - 062, 049 | Resistance - 087, 120

Trading Range - The scrip opened at 063.00, moved up to an intra-day high of 065.85, declined to an intra-day low of 062.00 and closed at 064.65.

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.     

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.