Stock picks of the day

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

Sensex

Last Close - 14253.38 | Support - 14243, 14171 | Resistance - 14325, 14454

Trading Range - The Sensex opened at 14449.23, moved up to an intra-day high of 14466.76, declined to an intra-day low of 14230.47, and closed at 14253.38.         

Review/Outlook - The Sensex has reflected some more heaviness by facing stiff resistance at higher levels after a 675 point rise in merely 3 trading sessions, has faced significant pressure to come off from its intra-day high and has finally ended in negative territory on distinctly lower volume. Volatility can be the order of the day, the negatives of the last trading session are expected to spill over to today's trading session indicating the possibility of an intra-day downside especially below the 14230 level while support comes in at the levels 14010 – 14040 levels.   

Suashish Diamonds

Last Close - 206.25 | Support - 200, 166 | Resistance - 230, 254

Trading Range - The scrip opened at 200.00, moved up to an intra-day high of 206.25, declined to an intra-day low of 190.05 and closed at 206.25.

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. 

Steel Strips

Last Close - 255.60 | Support - 250, 225 | Resistance - 275, 300

Trading Range - The scrip opened at 254.90, moved up to an intra-day high of 255.60, declined to an intra-day low of 249.00 and closed at 255.60.

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.

KS Oils

Last Close - 307.90 | Support - 275, 250 | Resistance - 319, 354

Trading Range - The scrip opened at 299.80, moved up to an intra-day high of 307.90, declined to an intra-day low of 290.00 and closed at 307.90.

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.

Hind. Everest

Last Close - 039.20 | Support - 034, 023 | Resistance - 041, 051

Trading Range - The scrip opened at 035.70, moved up to an intra-day high of 039.20, declined to an intra-day low of 035.50 and closed at 039.20.

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.