Stock picks for today

The market has remained in a positive frame of mind, has come off its intra-day low and has finally ended the day in positive territory. FMCG, Consumer Durables, Metals, Auto, IT & Healthcare have ended negative in varying degrees while Banks, Capital Goods, Oil & PSUs have ended in positive territory.

Volumes registered a noticeable decrease (read as turnover) while the undertone seemed stable.

Sensex (Daily)

Last Close – 14652.09; Support – 14600, 14524;Resistance – 14700, 14800

Trading Range: The Sensex opened at 14690.58, moved up to an intra-day high of 14697.69, declined to an intra-day low of 14523.16, and closed at 14652.09.

Review/Outlook: The Sensex has reflected significant amount of strength by not only posting an all time high but has also closed at an all time high, has remained positive to come off from its intra-day low and has finally ended in positive territory on slightly lower volume. Volatility can be the order of the day, the positives of the last trading session might just spill over to today's trading session indicating the possibility of an intra-day upside especially above the 14698 level while strong support at lower levels (14530) could mean a rather limited downside.

Foseco India (Daily)

Last Close – 403.70; Support – 380, 352; Resistance – 423, 450

Trading Range: The scrip opened at 378.80, moved up to an intra-day high of 403.70, declined to an intra-day low of 378.80 and closed at 403.70.

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.

Murudeshwar (Daily)

Last Close – 118.55; Support – 111, 094; Resistance – 134, 156

Trading Range: The scrip opened at 108.85, moved up to an intra-day high of 118.55, declined to an intra-day low of 108.20 and closed at 118.55.

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.

Alphageo Ind (Daily)

Last Close – 196.65; Support – 185, 147; Resistance – 197, 219

Trading Range: The scrip opened at 191.90, moved up to an intra-day high of 196.85, declined to an intra-day low of 185.10 and closed at 196.65.

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.

Swan Mills (Daily)

Last Close – 113.60; Support – 108, 095; Resistance – 126, 150

Trading Range: The scrip opened at 112.80, moved up to an intra-day high of 113.60, declined to an intra-day low of 104.00 and closed at 113.60.

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.
DISCLAIMER: While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.
Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.