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

Sensex (Daily)                                                                     

Last Close - 19783.51 | Support - 19621, 19276 | Resistance - 20000, 20200

Trading Range - The Sensex opened at 20103.00, moved up to an intra-day high of 20238.00, declined to an intra-day low of 19694.85 and closed at 19783.51. 

Review/Outlook - The Sensex has had a mixed trading session, has had a strong opening, has moved both ways, has received selling pressure at higher levels, has come off from its intra - day high and has finally ended in negative territory on clearly higher volume. Volatility can be the order of the day; a minor intra-day downside (seems like a possibility) could come in below the 19694 level while support at lower levels (19621) – would limit the downside indicating the possibility of a recovery. 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 - 167.10 | Support - 154, 140 | Resistance - 175, 200

Trading Range - The scrip opened at 161.15, moved up to an intra-day high of 167.10, declined to an intra-day low of 161.15 and closed at 167.10.

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.   

Gremac Infra. (Daily)                                                  

Last Close - 274.95 | Support - 263, 231 | Resistance - 288, 325

Trading Range - The scrip opened at 254.10, moved up to an intra-day high of 275.10, declined to an intra-day low of 254.10 and closed at 274.95.

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.   

Rishi Laser. (Daily)                                             

Last Close - 118.85 | Support - 101, 079 | Resistance - 136, 175

Trading Range - The scrip opened at 109.50, moved up to an intra-day high of 118.85, declined to an intra-day low of 107.00 and closed at 118.85.

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.       

Jaihind Proj. (Daily)                                                 

Last Close - 147.30 | Support - 134, 109 | Resistance - 150, 200

Trading Range - The scrip opened at 144.90, moved up to an intra-day high of 147.30, declined to an intra-day low of 140.00 and closed at 147.30.

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.

DISCLAIMER: While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.

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.