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

Sensex (Daily)                                                                     

Last Close - 19243.17 | Support - 19198, 18833 | Resistance - 19300, 19500

Trading Range - The Sensex opened at 18823.66, moved up to an intra-day high of 19276.45, declined to an intra-day low of 18629.53 and closed at 19243.17. 

Review/Outlook - The Sensex has had a mixed trading session, has had a positive 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 19277 level while resistance at higher levels (19600) - 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 - 151.60 | Support - 140, 118 | Resistance - 154, 175

Trading Range - The scrip opened at 151.50, moved up to an intra-day high of 151.60, declined to an intra-day low of 144.50 and closed at 151.60.

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 - 701.90 | Support - 661, 618 | Resistance - 769, 798

Trading Range - The scrip opened at 669.90, moved up to an intra-day high of 701.90, declined to an intra-day low of 669.90 and closed at 701.90.

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.   

Bajaj Elect. (Daily)                                             

Last Close - 329.95 | Support - 322, 300 | Resistance - 359, 385

Trading Range - The scrip opened at 329.45, moved up to an intra-day high of 329.45, declined to an intra-day low of 315.50 and closed at 329.95.

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.       

Karuturi Network. (Daily)                                                    

Last Close - 206.25 | Support - 172, 160 | Resistance - 218, 240

Trading Range - The scrip opened at 201.50, moved up to an intra-day high of 209.70, declined to an intra-day low of 196.40 and closed at 206.25.

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.     

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.