Stock picks for today

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.

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

Sensex (Daily)

Last Close -- 20376.00; Support -- 20300, 20238; Resistance -- 20500, 20700

Trading Range: The Sensex opened at 20197.00, moved up to an intra-day high of 20419.00, declined to an intra-day low of 20045.00 and closed at 20376.00.

Review/Outlook: The Sensex has had a mixed trading session, has had a weak 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 20419 level while resistance at higher levels (20600) -- would limit the upside. The outlook has turned positive again while resistance comes in at the 21200+ level and support comes in at the 18833 level.

Nilkamal Ltd. (Daily)

Last Close -- 394.15; Support -- 375, 340; Resistance -- 420, 470

Trading Range: The scrip opened at 380.00, moved up to an intra-day high of 400.00, declined to an intra-day low of 361.40 and closed at 394.15.

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.

Elpro Int. (Daily)

Last Close -- 554.55; Support -- 550, 485; Resistance -- 600, 650

Trading Range: The scrip opened at 554.55, moved up to an intra-day high of 554.55, declined to an intra-day low of 528.00 and closed at 554.55.

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.

Jaibala Ind. (Daily)

Last Close -- 393.95; Support -- 375, 344; Resistance -- 425, 475

Trading Range: The scrip opened at 380.00, moved up to an intra-day high of 398.85, declined to an intra-day low of 377.00 and closed at 393.95.

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.

RSWM Ltd. (Daily)

Last Close -- 157.15; Support -- 129, 115; Resistance -- 160, 200

Trading Range: The scrip opened at 154.00, moved up to an intra-day high of 157.15, declined to an intra-day low of 158.95 and closed at 157.15.

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.