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 and Oil have ended negative in varying degrees while FMCG, Pharma and Metals have ended in positive territory. Volume registered a sharp decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 10858.50 | Support - 10740, 10662 | Resistance - 10884, 10947

Trading Range - The Sensex opened at 10922.61, moved up to an intra-day high of 10922.61, declined to an intra-day low of 10797.49 and closed at 10858.50.

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 but once again on low volume while a close above the 10940 – 11000 level is a must for a further upside. The outlook seems to be improving again and despite the extreme volatility, a range bound movement cannot be ruled out while an intra-day upside could come in above the 10923 level while intra-day resistance comes in at the 11000+ level.                                        

Shaw Wallace. (Daily)

Last Close - 125.30 | Support - 121, 092 | Resistance - 140, 173

Trading Range - The scrip opened at 114.00, moved up to an intra-day high of 125.30, declined to an intra-day low of 114.00 and closed at 125.30.

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. 

Madras Alum. (Daily)

Last Close - 329.95 | Support - 296, 279 | Resistance - 370, 475

Trading Range - The scrip opened at 315.00, moved up to an intra-day high of 331.70, declined to an intra-day low of 315.00 and closed at 329.95.

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.      

Eimco Elecon. (Daily)

Last Close - 268.55 | Support - 237, 218 | Resistance - 274, 332

Trading Range - The scrip opened at 264.95, moved up to an intra-day high of 268.55, declined to an intra-day low of 260.00 and closed at 268.55.

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.      

Opto Circuit. (Daily) 

Last Close - 379.20 | Support - 362, 303 | Resistance - 394, 469 

Trading Range - The scrip opened at 363.05, moved up to an intra-day high of 379.25, declined to an intra-day low of 355.00 and closed at 379.20.

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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