Stock picks for the day

The market has remained relatively range bound and despite some intra-day volatility, it has just about ended in positive territory.

Capital goods, consumer durables, pharma, IT and the PSU sectors have all ended positive in varying degrees while it is the banks and the FMCG sectors which have ended in negative territory.

Volume registered a smart increase (read turnover) while the undertone seemed hopeful.

Sensex (Daily)
Last Close – 8906.31; Support – 8822, 8772; Resistance – 8960, 9034

Trading Range: The Sensex opened at 8912.74, moved up to an intra-day high of 8931.58, declined to an intra-day low of 8826.39 and closed at 8906.31.

Review/Outlook: The Sensex outlook hasn't changed much and it continues to remain relatively rangebound with rather inconsequential intra-day movements. Its rather obvious that the Sensex is finally consolidating/correcting after a brilliant rise and activity could spurt only on a closing below the 8768 level or on a close above the 9000 level.

Aegis Logistics (Daily)
Last Close – 298.25; Support – 292, 260; Resistance – 325, 375

Trading Range: The scrip opened at 284.40, moved up to an intra-day high of 298.25, declined to an intra-day low of 282.00 and closed at 298.25.

Review/Outlook: The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards.

TIL Limited (Daily)
Last Close – 176.60; Support – 162, 144; Resistance – 194, 250

Trading Range: The scrip opened at 171.40, moved up to an intra-day high of 178.50, declined to an intra-day low of 167.90 and closed at 176.60.

Review/Outlook: The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Kirl. Pneumatic (Daily)
Last Close – 243.50; Support – 215, 195; Resistance – 250, 300

Trading Range: The scrip opened at 237.80, moved up to an intra-day high of 243.50, declined to an intra-day low of 237.80 and closed at 243.50.

Review/Outlook: The scrip has reflected strength by appreciating with an upward gap and with the indicators looking positive, a further upside seems to be on the cards.

Murli Agro. (Daily)
Last Close – 220.65; Support – 202, 174; Resistance – 238, 268

Trading Range: The scrip opened at 213.30, moved up to an intra-day high of 220.65, declined to an intra-day low of 213.30 and closed at 220.65.

Review/Outlook: The scrip has reflected strength by recovering 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 be having positions in the stocks mentioned above.