Stock picks of the day

The market has remained a bit volatile, has moved both ways and has finally ended the day in negative territory. Capital goods, FMCG, IT, pharma, consumer durables, Auto and PSUs have ended negative in varying degrees while the banks, metals and Oil sector has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed subdued.

Sensex (Daily) 

Last Close - 12173.91,  Support - 12104, 12054,  Resistance - 12231, 12308

Trading Range - The Sensex opened at 12257.27, moved up to an intra-day high of 12273.71, declined to an intra-day low of 12149.09 and closed at 12173.91.

Review/Outlook - The Sensex has reflected just a little bit of weakness by breaching the previous two trading session's intra-day lows while the gap between 12129 & 12168 has provided the necessary support for a limited downside. The intra-day outlook remains hazy as the unfulfilled gap would probably provide the requite support despite the mild downward bias which seems to have spilled over from the previous trading session.        

Dolphin Off. (Daily)  

Last Close - 281.55, Support - 238, 199,  Resistance - 285, 329

Trading Range - The scrip opened at 265.00, moved up to an intra-day high of 281.55, declined to an intra-day low of 260.00 and closed at 281.55.

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. 

VBC Ferro. (Daily)  

Last Close - 101.50, Support - 097, 076, Resistance - 104, 125

Trading Range - The scrip opened at 093.50, moved up to an intra-day high of 101.50, declined to an intra-day low of 092.00 and closed at 101.50.

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.

Easun Reyrole. (Daily) 

Last Close - 593.95,  Support - 561, 524, Resistance - 628, 683

Trading Range - The scrip opened at 565.05, moved up to an intra-day high of 593.95, declined to an intra-day low of 565.00 and closed at 593.95.

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.

Flat Prod. (Daily)     

Last Close - 103.80,  Support - 102, 088, Resistance - 126, 164

Trading Range - The scrip opened at 098.00, moved up to an intra-day high of 103.80, declined to an intra-day low of 096.05 and closed at 103.80.

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           

Scrip	Support	Last Close	Resistance	Trend
ACC	924, 892	965.55	9792, 1022	Up
DR. REDDY	733, 700	737.70	757, 795	Sd
HLL	252, 240	252.75	266, 281	Tu
INFOSYS	1800, 1721	1817.25	1900, 2000	Sd
ITC	180, 168	184.30	190, 210	Tu
RIL	1136, 1109	1163.65	1171, 1195	Up
SATYAM	810, 770	827.75	830, 860	Tu
SBI	950, 926	971.20	1000, 1050	Tu
T MOTORS	811, 770	846.40	849, 888	Td
TISCO	500, 480	507.70	530, 550	Tu

 

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.