Stock picks of the day

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

Sensex (Daily)                                                                          

Last Close - 17613.99 | Support - 17494, 17287 | Resistance - 17953, 18327

Trading Range - The Sensex opened at 17259.65, moved up to an intra-day high of 17704.83, declined to an intra-day low of 17171.45 and closed at 17613.99. 

Review/Outlook - The Sensex has had a mixed trading session, has had a weak opening, has moved both ways, has received buying support at lower levels, has come off from its intra - day low and has finally ended mildly in positive territory on clearly lower volume. Volatility can be the order of the day; an intra-day upside (seems like a distinct possibility) could come in above the 17632 level while resistance at higher levels (18032) - would limit the upside. The outlook has turned bullish again while resistance comes in at the 20800+ level and support comes in at the 16800 level. 

Indo Borax. (Daily)                                                                        

Last Close - 178.85 | Support - 139, 118 | Resistance - 180, 206

Trading Range - The scrip opened at 170.00, moved up to an intra-day high of 181.00, declined to an intra-day low of 169.10 and closed at 178.85.

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 - 199.10 | Support - 177, 152 | Resistance - 200, 250

Trading Range - The scrip opened at 189.25, moved up to an intra-day high of 199.10, declined to an intra-day low of 187.00 and closed at 199.10.

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.   

Vbc Ferro Alloys. (Daily)                                                             

Last Close - 386.50 | Support - 375, 334 | Resistance - 425, 475

Trading Range - The scrip opened at 384.70, moved up to an intra-day high of 386.50, declined to an intra-day low of 370.10 and closed at 386.50.

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 - 567.50 | Support - 545, 491 | Resistance - 604, 669

Trading Range - The scrip opened at 511.25, moved up to an intra-day high of 578.50, declined to an intra-day low of 511.25 and closed at 567.50.

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.