Stock picks of the day

The market has had a volatile trading session to basically decline from higher levels and has finally ended the day in negative territory. Banks, Consumer Durables, Auto, PSU, Capital Goods, IT, Oil, FMCG and Metals have ended negative in varying degrees while Pharma has ended in positive territory. Volume registered a small increase (read as turnover) while the undertone seemed mixed.

Sensex (Daily)

Last Close - 10614.35 | Support - 10556, 10424 | Resistance - 10662, 10740

Trading Range - The Sensex opened at 10699.62, moved up to an intra-day high of 10704.01, declined to an intra-day low of 10566.71 and closed at 10614.35.

Review/Outlook - The Sensex has reflected some amount of indecision by staying within the previous day's trading range and has been unable to sustain itself at higher levels to actually take support on the 55 Day EMA which actually limited the downside on slightly better volume. The outlook has come under pressure again and despite the extreme volatility, a range bound movement cannot be ruled out while an intra-day upside could come in only above the 10704 level while an intra-day downside could come in only below the 10566 level.                                      

Kesoram Ind. (Daily)

Last Close - 268.60 | Support - 252, 226 | Resistance - 290, 348

Trading Range - The scrip opened at 259.95, moved up to an intra-day high of 268.60, declined to an intra-day low of 258.05 and closed at 268.60.

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. 

Sukhjit Starch. (Daily)

Last Close - 154.65 | Support - 152, 131 | Resistance - 183, 218

Trading Range - The scrip opened at 154.65, moved up to an intra-day high of 154.65, declined to an intra-day low of 153.75 and closed at 154.65.

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.      

Steel Strips. (Daily)

Last Close - 120.25 | Support - 114, 091 | Resistance - 130, 159

Trading Range - The scrip opened at 120.35, moved up to an intra-day high of 124.00, declined to an intra-day low of 118.65 and closed at 120.25.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.      

Clariant Chem. (Daily)

Last Close - 258.65 | Support - 243, 221 | Resistance - 282, 318 

Trading Range - The scrip opened at 267.00, moved up to an intra-day high of 268.00, declined to an intra-day low of 258.40 and closed at 258.65.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside 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.

Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group