Stock picks of the day

The market has remained in a mildly negative state of mind, has come off its intra-day low and has finally ended the day in negative territory. Banks, Healthcare, Consumer Durables, FMCG, Auto, Metals, PSU, Oil & Capital Goods have ended negative in varying degrees while IT has ended in positive territory. Volume registered a clear decrease (read as turnover) while the undertone seemed mixed.

Sensex

Last Close - 13113.81 | Support - 13030, 12925 | Resistance - 13135, 13296

Trading Range - The Sensex opened at 13127.86, moved up to an intra-day high of 13160.15, declined to an intra-day low of 13030.87, and closed at 13113.81.            

Review/Outlook - The Sensex has reflected some amount of indecision by cooling off just a bit, has come off from its intra-day low and has run into resistance at the 13100+ levels to end negative on noticeably lower volume. Volatility can be the order of the day; an intra-day upside above the 13161 level seems like a strong possibility while the upside seems to be limited to the 13242 level indicating the possibility of an upward bias. The outlook seems to be turning better again while resistance comes in at the 13400+ level and support comes in at the 12950 level.

Pudumjee Pulp

Last Close - 096.00 | Support - 090, 069 | Resistance - 098, 123

Trading Range - The scrip opened at 085.00, moved up to an intra-day high of 096.00, declined to an intra-day low of 085.00 and closed at 096.00.

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.   

Aarvee Denim

Last Close - 102.50 | Support - 097, 075 | Resistance - 103, 119

Trading Range - The scrip opened at 099.00, moved up to an intra-day high of 102.50, declined to an intra-day low of 099.00 and closed at 102.50.

Review/Outlook - The scrip has reflected 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 - 195.95 | Support - 195, 159 | Resistance - 225, 250

Trading Range - The scrip opened at 185.00, moved up to an intra-day high of 195.95, declined to an intra-day low of 185.00 and closed at 195.95.

Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.     

Diamond Cables

Last Close - 150.35 | Support - 149, 136 | Resistance - 170, 200

Trading Range - The scrip opened at 146.40, moved up to an intra-day high of 150.35, declined to an intra-day low of 140.15 and closed at 150.35.

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.