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. Capital Goods, Oil, IT, Realty Banks, Healthcare, Tech, Consumer Durables, Auto, Metals, FMCG & PSU's have ended positive in varying degrees while the no sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)                                                                     

Last Close - 19929.06 | Support - 19621, 19276 | Resistance - 19984, 20204

Trading Range - The Sensex opened at 19336.96, moved up to an intra-day high of 19987.71, declined to an intra-day low of 19336.96 and closed at 19929.06. 

Review/Outlook - The Sensex has had an upbeat trading session, has had a strong opening, has moved just one way, has received buying support even at higher levels, has come off from its intra - day low and has finally ended in positive territory on clearly lower volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 19988 level while resistance at higher levels (20000) - would limit the upside putting a question mark over sustainability. The outlook has turned bullish again while resistance comes in at the 21200+ level and support comes in at the 18833 level. 

Premier Auto. (Daily)                                                  

Last Close - 135.25 | Support - 125, 095 | Resistance - 150, 175

Trading Range - The scrip opened at 135.25, moved up to an intra-day high of 135.25, declined to an intra-day low of 125.20 and closed at 135.25.

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.   

Kaveri Tele. (Daily)                                                    

Last Close - 197.30 | Support - 189, 152 | Resistance - 208, 250

Trading Range - The scrip opened at 196.75, moved up to an intra-day high of 197.30, declined to an intra-day low of 193.30 and closed at 197.30.

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.   

Bombay Burmah. (Daily)                                                

Last Close - 826.25 | Support - 798, 769 | Resistance - 850, 900

Trading Range - The scrip opened at 801.00, moved up to an intra-day high of 826.25, declined to an intra-day low of 800.00 and closed at 826.25.

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.       

Bhartiya Int. (Daily)                                                 

Last Close - 119.15 | Support - 114, 090 | Resistance - 129, 152

Trading Range - The scrip opened at 110.00, moved up to an intra-day high of 119.15, declined to an intra-day low of 108.15 and closed at 119.15.

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.     

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.