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 sharply in negative territory. Banks, FMCG, Pharma, Metals, Consumer Durables, Auto, PSU, Capital Goods, IT and Oil have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed panicky.

Sensex (Daily)

Last Close - 10293.22 | Support - 10192, 10020 | Resistance - 10305, 10424

Trading Range - The Sensex opened at 10647.26, moved up to an intra-day high of 10647.26, declined to an intra-day low of 10262.57 and closed at 10293.22.

Review/Outlook - The Sensex has reflected significant amount of weakness by breaching the previous two weeks intra-week lows and it has also managed to close below the 55 Day EMA which is currently placed at 10581.31 albeit on lower 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 downside could come in below the 10262 level while intra-day support comes in at the 9943 level.  

FCS Softw. (Daily)

Last Close - 081.45 | Support - 067, 050 | Resistance - 091, 106

Trading Range - The scrip opened at 079.95, moved up to an intra-day high of 081.45, declined to an intra-day low of 078.50 and closed at 081.45.

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. 

Shree Ram. (Daily)

Last Close - 324.70 | Support - 300, 257 | Resistance - 354, 432

Trading Range - The scrip opened at 316.80, moved up to an intra-day high of 324.70, declined to an intra-day low of 316.80 and closed at 324.70.

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.      

Aegis Logistics. (Daily)

Last Close - 156.15 | Support - 155, 133 | Resistance - 183, 230

Trading Range - The scrip opened at 164.35, moved up to an intra-day high of 168.00, declined to an intra-day low of 156.15 and closed at 156.15.

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.      

Sakthi Sugar. (Daily)

Last Close - 172.55 | Support - 163, 141 | Resistance - 190, 229 

Trading Range - The scrip opened at 190.65, moved up to an intra-day high of 190.65, declined to an intra-day low of 172.55 and closed at 172.55.

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.

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