Stock picks of the day

The market has remained under pressure, has come off its intra-day high and has finally ended the day in negative territory. Banks, Oil, FMCG, Consumer Durables, Metals, Auto, IT, Capital Goods, Healthcare & PSU's have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed weak.

Sensex (Daily)

Last Close - 14041.24 | Support - 14035, 13931 | Resistance - 14171, 14243

Trading Range - The Sensex opened at 14212.12, moved up to an intra-day high of 14212.12, declined to an intra-day low of 14025.74 and closed at 14041.24.

Review/Outlook - The Sensex has reflected near term weakness by breaching and closing below the previous 6 trading sessions lows to come off from its intra-day high and has finally ended in negative territory on distinctly higher volume. Volatility can be the order of the day, the negatives of the last trading session might just spill over to today's trading session indicating the possibility of a minor intra-day downside especially below the 14025 level while strong support at lower levels could mean a late recovery especially in the event of an early decline.

Godavari Fert. (Daily)

Trading Range - The scrip opened at 123.95, moved up to an intra-day high of 131.40, declined to an intra-day low of 121.10 and closed at 131.40s

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. 

Intellvision Soft. (Daily)

Last Close - 190.80 | Support - 171, 144 | Resistance - 198, 224

Trading Range - The scrip opened at 177.40, moved up to an intra-day high of 190.80, declined to an intra-day low of 175.00 and closed at 190.80.

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.

Dagger Forst. (Daily)

Last Close - 076.25 | Support - 073, 060 | Resistance - 080, 093

Trading Range - The scrip opened at 074.00, moved up to an intra-day high of 076.25, declined to an intra-day low of 069.95 and closed at 076.25.

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.

Dhandapani Fin. (Daily)

Last Close - 066.40 | Support - 066, 049 | Resistance - 069, 080

Trading Range - The scrip opened at 063.40, moved up to an intra-day high of 066.40, declined to an intra-day low of 060.60 and closed at 066.40.

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.