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, Metals, PSU, Realty, IT, Auto, Oil & PSU's have ended positive in varying degrees while FMCG & Healthcare have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)                                                                     

Last Close - 18770.89 | Support - 18537, 18327 | Resistance - 18833, 19198

Trading Range - The Sensex opened at 18519.23, moved up to an intra-day high of 18900.10, declined to an intra-day low of 18459.51 and closed at 18770.89. 

Review/Outlook - The Sensex has had a mixed trading session, has had a neutral opening, has moved both ways, has received buying support at lower levels, has come off from its intra-day low and has finally ended in positive territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 18790 level while resistance at higher levels (19000) -- 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. 

Deep Ind. (Daily)                                                        

Last Close - 144.40 | Support - 140, 118 | Resistance - 154, 175

Trading Range - The scrip opened at 140.00, moved up to an intra-day high of 144.40, declined to an intra-day low of 139.00 and closed at 144.40.

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.   

Bombay Burmah. (Daily)                                                        

Last Close - 668.50 | Support - 661, 618 | Resistance - 769, 798

Trading Range - The scrip opened at 662.00, moved up to an intra-day high of 680.00, declined to an intra-day low of 650.00 and closed at 668.50.

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.   

Bajaj Elect. (Daily)                                             

Last Close - 314.25 | Support - 300, 258 | Resistance - 322, 259

Trading Range - The scrip opened at 311.50, moved up to an intra-day high of 314.25, declined to an intra-day low of 306.05 and closed at 314.25.

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.        

Karuturi Network. (Daily)                                                    

Last Close - 201.95 | Support - 172, 160 | Resistance - 218, 240

Trading Range - The scrip opened at 200.00, moved up to an intra-day high of 207.90, declined to an intra-day low of 196.35 and closed at 201.95.

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.