Stock picks of the day

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

Sensex (Daily)

Last Close - 15505.36 | Support - 15440, 15341 | Resistance – 15773, 15812

Trading Range - The Sensex opened at 15608.50, moved up to an intra-day high of 15661.44, declined to an intra-day low of 15486.81 and closed at 15505.36.

Review/Outlook - The Sensex has had a mixed trading session, has had a strong opening, has depreciated after facing selling pressure at higher levels, has come off from its intra - day high and has finally ended in negative territory on mildly higher volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 15486 level while support at lower levels (15350) - would limit the downside while a late recovery cannot be ruled out. The outlook seems to be turning bullish again while resistance comes in at the 16400+ level and support comes in at the 14005 level.

Birla Kenna. (Daily)

Last Close - 329.90 | Support - 295, 255 | Resistance - 345, 396

Trading Range - The scrip opened at 328.90, moved up to an intra-day high of 329.90, declined to an intra-day low of 300.00 and closed at 329.90.

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

Jayant Agro. (Daily)

Last Close - 102.35 | Support - 091, 077 | Resistance - 112, 131

Trading Range - The scrip opened at 101.10, moved up to an intra-day high of 102.25, declined to an intra-day low of 099.15 and closed at 102.25.

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

Tanla Sol. (Daily)

Last Close - 530.90 | Support - 525, 500 | Resistance - 550, 600

Trading Range - The scrip opened at 489.90, moved up to an intra-day high of 530.90, declined to an intra-day low of 485.00 and closed at 530.90.

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

Radha Madhav.(Daily)

Last Close - 077.00 | Support - 072, 056 | Resistance - 087, 100

Trading Range - The scrip opened at 071.00, moved up to an intra-day high of 077.00, declined to an intra-day low of 070.20 and closed at 077.00.

Review/Outlook - The scrip has reflected strength by appreciating 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.