Stock picks of the day

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

Sensex (Daily)

Last Close - 19051.86 | Support - 18833, 18537 | Resistance - 19100, 19300

Trading Range - The Sensex opened at 19102.93, moved up to an intra-day high of 19174.45, declined to an intra-day low of 18777.75 and closed at 19051.86. 

Review/Outlook - The Sensex has had a mixed trading session, has had a strong opening, has moved both ways, has faced selling pressure at higher levels, has come off from its intra - day high and has finally ended in negative territory on clearly lower volume. Volatility can be the order of the day; an intra-day downside (seems like a formality) could come in below the 19051 level while support at lower levels (17980) – would limit the downside. The outlook has turned bullish again while resistance comes in at the 19200+ level and support comes in at the 16800 level. 

Wearology. (Daily)

Last Close - 153.40 |  Support - 145, 110 | Resistance - 173, 210

Trading Range - The scrip opened at 157.80, moved up to an intra-day high of 161.85, declined to an intra-day low of 153.40 and closed at 153.40.

Review/Outlook - The scrip has reflected weakness by depreciating from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.   

Advanced Micro. (Daily)

Last Close - 090.90 | Support - 086, 068 | Resistance - 100, 125

Trading Range - The scrip opened at 099.95, moved up to an intra-day high of 099.95, declined to an intra-day low of 090.45 and closed at 090.90.

Review/Outlook - The scrip has reflected weakness by depreciating from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.  

Asian Oil. (Daily)

Last Close - 139.00 | Support - 131, 108 | Resistance - 147, 175

Trading Range - The scrip opened at 140.25, moved up to an intra-day high of 147.25, declined to an intra-day low of 136.00 and closed at 139.00.

Review/Outlook - The scrip has reflected weakness by depreciating from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.       

Flat Products. (Daily)

Last Close - 506.80 | Support - 487, 432 | Resistance - 530, 575

Trading Range - The scrip opened at 530.00, moved up to an intra-day high of 530.00, declined to an intra-day low of 501.00 and closed at 506.80.

Review/Outlook - The scrip has reflected weakness by depreciating from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.     

Daily Stock Track         

Scrip	Support	Last Close	Resistance	Trend
ACC	1265, 1220	1266.60	1290, 1320	Up
DR. REDDY	610, 579	622.15	645, 669	Dt
HUL	203, 192	212.45	216, 224	Td
INFOSYS	1834, 1785	1868.25	1883, 1962	Td
ITC	180, 168	185.30	193, 213	Tu
RIL	2615, 2539	2648.30	2682, 2750	Up
SATYAM	443, 425	449.90	471, 496	Sd
SBI	1909, 1877	1924.35	2000, 2100	Up
T MOTORS	811, 771	821.20	849, 870	Up
TISCO	900, 875	907.05	950, 1000	Up

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 not only be having positions but could even be having contrary positions in the stocks mentioned above.