Stocks picks for today

The market has had a volatile trading session to basically come off its intra-day low and has finally ended the day in positive territory.

Capital goods, IT, metal, PSU, auto, oil, consumer durables and pharma have ended positive in varying degrees while banks and FMCG have ended in negative territory. Volume registered a much-needed increase (read as turnover) while the undertone seemed positive.

Sensex (Daily)

Last Close -11192.46, Support - 11186, 11052 Resistance - 11286, 11356

Trading Range: The Sensex opened at 11181.34, moved up to an intra-day high of 11241.11, declined to an intra-day low of 11069.25 and closed at 11192.46.

Review/Outlook: The Sensex has faced alternate bouts of both, buying & selling and has come off its intra-day low to just about end in positive territory on noticeably higher volume and has managed to close above the 11000 level for the fourth trading session in a row. The outlook seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts seem rather hazy while an upside could come in only above the 11241 level while the sanctity of the 11000 level needs to be maintained at all times.            

Pratibha Ind. (Daily)

Last Close - 208.90,  Support - 181, 162, Resistance - 219, 251

Trading Range: The scrip opened at 204.70, moved up to an intra-day high of 208.90, declined to an intra-day low of 195.00 and closed at 208.90.

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. 

Vakrangee Soft. (Daily)

Last Close - 182.25, Support - 150, 143, Resistance - 200, 223

Trading Range:  The scrip opened at 178.15, moved up to an intra-day high of 182.85, declined to an intra-day low of 166.30 and closed at 182.25.

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.        

Dalmia Cement (Daily)

Last Close - 274.20, Support - 268, 235, Resistance - 276, 304

Trading Range: The scrip opened at 251.00, moved up to an intra-day high of 274.20, declined to an intra-day low of 251.00 and closed at 274.20.

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.       

Harrisons Malayalam. (Daily)        

Last Close - 090.90, Support - 072, 061, Resistance - 108, 133 

Trading Range: The scrip opened at 086.00, moved up to an intra-day high of 090.90, declined to an intra-day low of 086.00 and closed at 090.90.

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.