Stock picks of the day

The market has remained in a positive state of mind, has come off its intra-day low and has finally ended the day in positive territory. Banks, Capital Goods, FMCG, Healthcare, Consumer Durables, Metals, PSU, Realty, IT, Auto, Oil & PSU's have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed bullish.

Sensex (Daily)                                                                     

Last Close - 19977.67 | Support - 19621, 19276 | Resistance - 20000, 20200

Trading Range - The Sensex opened at 19621.39, moved up to an intra-day high of 20025.00, declined to an intra-day low of 19621.39 and closed at 19977.67. 

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 - 159.15 | Support - 154, 140 | Resistance - 175, 200

Trading Range - The scrip opened at 159.15, moved up to an intra-day high of 159.15, declined to an intra-day low of 154.25 and closed at 159.15.

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

Trading Range - The scrip opened at 736.95, moved up to an intra-day high of 736.95, declined to an intra-day low of 710.00 and closed at 736.95.

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.   

Bajaj Elect. (Daily)                                             

Last Close - 346.40 | Support - 322, 300 |  Resistance - 359, 385

Trading Range - The scrip opened at 337.00, moved up to an intra-day high of 346.40, declined to an intra-day low of 337.00 and closed at 346.40.

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.       

Karuturi Network. (Daily)                                                    

Last Close - 203.05 | Support - 172, 160  | Resistance - 218, 240

Trading Range - The scrip opened at 207.95, moved up to an intra-day high of 209.35, declined to an intra-day low of 197.55 and closed at 203.05.

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.