Stock picks for today

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.

Capital goods, consumer durables, FMCG, healthcare, oil, metals, banks, IT, auto, PSUs, realty, & tech have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed sombre.

Sensex (Daily)

Last Close | 19261.35; Support | 18833, 18327; Resistance | 19276, 19621

Trading Range: The Sensex opened at 20032.67, moved up to an intra-day high of 20032.67, declined to an intra-day low of 19177.19 and closed at 19261.35.

Review/Outlook: The Sensex has had a weak trading session, has had a neutral opening, has moved both ways, has faced selling pressure even at lower 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; an intra-day downside (seems like a possibility) could come in below the 19240 level while support at lower levels (19001) | would limit the downside. The outlook has turned positive again while resistance comes in at the 21200+ level and support comes in at the 18833 level.

Ansal Infra. (Daily)

Last Close | 386.95; Support | 348, 288 ; Resistance | 423, 469

Trading Range: The scrip opened at 386.95, moved up to an intra-day high of 408.85, declined to an intra-day low of 366.00 and closed at 386.95.

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.

Patel Engg. (Daily)

Last Close | 883.20; Support | 846, 780 ; Resistance | 900, 950

Trading Range: The scrip opened at 888.00, moved up to an intra-day high of 898.00, declined to an intra-day low of 856.00 and closed at 883.20.

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.

Satyam Comp. (Daily)

Last Close | 405.90; Support | 385, 367 ; Resistance | 406, 425

Trading Range: The scrip opened at 412.00, moved up to an intra-day high of 417.90, declined to an intra-day low of 401.00 and closed at 405.90.

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.

Tata Motors. (Daily)

Last Close | 701.25; Support | 698, 670 ; Resistance | 722, 749

Trading Range: The scrip opened at 747.00, moved up to an intra-day high of 748.70, declined to an intra-day low of 690.00 and closed at 701.25.

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.

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.