Jaibala, Nilkamal offer good opportunity

The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day in negative territory.

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

Sensex (Daily)

Last Close – 19930.68; Support – 19621, 19276; Resistance – 19984, 20035

Trading Range: The Sensex opened at 20075.00, moved up to an intra-day high of 20096.00, declined to an intra-day low of 19834.01 and closed at 19930.68.

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 lower volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 19942 level while resistance at higher levels (20090) – would limit the upside. The outlook has turned positive again while resistance comes in at the 20200+ level and support comes in at the 18833 level.

Nilkamal Ltd. (Daily)

Last Close – 369.45; Support – 340, 260 ; Resistance – 375, 400

Trading Range: The scrip opened at 340.05, moved up to an intra-day high of 369.45, declined to an intra-day low of 340.00 and closed at 369.45.

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.

Elpro Int. (Daily)

Last Close – 503.00; Support – 485, 420 ; Resistance – 550, 600

Trading Range: The scrip opened at 490.10, moved up to an intra-day high of 505.00, declined to an intra-day low of 490.10 and closed at 503.00.

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.

Jaibala Ind. (Daily)

Last Close – 371.55; Support – 344, 302 ; Resistance – 375, 425

Trading Range: The scrip opened at 353.90, moved up to an intra-day high of 371.55, declined to an intra-day low of 345.00 and closed at 371.55.

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.

RSWM Ltd. (Daily)

Last Close – 142.65; Support – 129, 115 ; Resistance – 160, 200

Trading Range: The scrip opened at 153.60, moved up to an intra-day high of 153.60, declined to an intra-day low of 137.40 and closed at 142.65.

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.