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. Banks, Capital Goods, Consumer Durables, FMCG, Auto, Metals, Oil, PSU, Tech, Healthcare & Realty have ended negative in varying degrees while the IT sector has ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed shaky.

Sensex (Daily)                                                                     

Last Close - 17559.98 | Support - 17494, 17287 | Resistance - 17953, 18327

Trading Range - The Sensex opened at 18031.77, moved up to an intra-day high of 18031.77, declined to an intra-day low of 17226.18 and closed at 17559.98. 

Review/Outlook - The Sensex has had a mixed trading session, has had a mixed trading session, has had a decent opening, has moved both ways, has received selling pressure at higher levels, has come off from its intra - day high and has finally ended sharply in negative territory on clearly lower volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 175438 evel while support at lower levels (17361) – would limit the downside. The outlook has turned bullish again while resistance comes in at the 20800+ level and support comes in at the 16800 level. 

Parsoli Corp. (Daily)                                                    

Last Close - 137.45 | Support - 127, 096 | Resistance - 145, 175

Trading Range - The scrip opened at 137.00, moved up to an intra-day high of 137.45, declined to an intra-day low of 132.00 and closed at 137.45.

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.   

Kaveri Tele. (Daily)                                                    

Last Close - 189.65 | Support - 177, 152 | Resistance - 200, 250

Trading Range - The scrip opened at 182.00, moved up to an intra-day high of 189.65, declined to an intra-day low of 172.00 and closed at 189.65.

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.   

Vbc Ferro Alloys. (Daily)                                               

Last Close - 368.10 | Support - 334, 265 | Resistance - 375, 425

Trading Range - The scrip opened at 368.10, moved up to an intra-day high of 368.10, declined to an intra-day low of 337.00 and closed at 368.10.

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.       

Indiabulls. (Daily)                                                     

Last Close - 548.70 | Support - 545, 491 | Resistance - 604, 669

Trading Range - The scrip opened at 518.00, moved up to an intra-day high of 558.00, declined to an intra-day low of 477.20 and closed at 548.70.

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