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

Sensex (Daily)                                                                               

Last Close - 16415.57 | Support - 16308, 15956 | Resistance - 16416, 16681

Trading Range - The Sensex opened at 16454.03, moved up to an intra-day high of 16540.49, declined to an intra-day low of 16314.99 and closed at 16415.57. 

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 positive territory on lower volume. Volatility can be the order of the day; an intra-day upside (seems like a mild possibility) could come in above the 16429 level while significant resistance at higher levels (16520) – 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 - 294.00 | Support - 280, 253 | Resistance - 303, 345

Trading Range - The scrip opened at 287.00, moved up to an intra-day high of 294.00, declined to an intra-day low of 287.00 and closed at 294.00.

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

Trading Range - The scrip opened at 074.80, moved up to an intra-day high of 074.80, declined to an intra-day low of 067.70 and closed at 074.15.

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 - 410.25 | Support - 387, 345 | Resistance - 430, 488

Trading Range - The scrip opened at 414.25, moved up to an intra-day high of 418.00, declined to an intra-day low of 386.25 and closed at 410.25.

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.       

Rasoya Proteins. (Daily)                                                   

Last Close - 066.75 | Support - 062, 049 | Resistance - 087, 120

Trading Range - The scrip opened at 065.85, moved up to an intra-day high of 067.50, declined to an intra-day low of 065.85 and closed at 066.75.

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.     

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.