Stock picks of the day

The market has had a volatile trading session to basically come off its intra-day high and has finally ended the day in positive territory. Banks, Consumer Durables, IT, Auto, Pharma, PSU and Capital Goods have ended positive in varying degrees while FMCG, Metal & Oil have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed mixed.

Sensex (Daily)                                                                     

Last Close - 10743.88 | Support - 10740, 10662 | Resistance - 10884, 10947

Trading Range - The Sensex opened at 10759.19, moved up to an intra-day high of 10853.91, declined to an intra-day low of 10710.29 and closed at 10743.88.

Review/Outlook - The Sensex has run into selling pressure at higher levels and has declined from its intra-day high to still end in positive territory after managing to sustain above the 55 Day EMA and has once again closed above it on lower volume. The outlook has seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts would seem to suggest an upside above the 10854 level while intra-day downside could come in below the 10710 level. 

Super Spinn. (Daily)                                                

Last Close - 321.05 | Support - 311, 280 | Resistance - 362, 420

Trading Range - The scrip opened at 316.50, moved up to an intra-day high of 321.05, declined to an intra-day low of 310.50 and closed at 321.05.

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. 

South EAM. (Daily)                                                 

Last Close - 150.35 | Support - 140, 131 | Resistance - 167, 192

Trading Range - The scrip opened at 147.90, moved up to an intra-day high of 150.35, declined to an intra-day low of 143.00 and closed at 150.35.

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.      

Bombay Burmah. (Daily)                                        

Last Close - 278.35 | Support - 265, 242 | Resistance - 315, 437

Trading Range - The scrip opened at 275.00, moved up to an intra-day high of 278.45, declined to an intra-day low of 260.00 and closed at 278.35.

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.       

Kalindee Rail. (Daily)                                             

Last Close - 093.20 | Support - 090, 074 | Resistance - 095, 119 

Trading Range - The scrip opened at 087.55, moved up to an intra-day high of 093.20, declined to an intra-day low of 084.75 and closed at 093.20.

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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Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.
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