Stock picks of the day

The market has remained in a solid state of mind, has come off its intra-day low and has finally ended the day in positive territory. Banks, capital goods, consumer durables, FMCG, IT, auto, realty, metals, tech, healthcare, oil & PSUs have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 19854.12 | Support - 19621, 19276 | Resistance - 19984, 20035

Trading Range - The Sensex opened at 19308.20, moved up to an intra-day high of 19879.00, declined to an intra-day low of 19308.20 and closed at 19854.12. 

Review/Outlook - The Sensex has had a solid trading session, has had a good opening, has moved just one way, has faced received buying support even at higher levels, has come off from its intra - day high 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 distinct possibility) could come in above the 19872 level while resistance at higher levels (20080) – 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.  

Abg Heavy Ind. (Daily)

Last Close - 708.30 | Support - 700, 632 | Resistance - 750, 800

Trading Range - The scrip opened at 703.70, moved up to an intra-day high of 708.30, declined to an intra-day low of 700.00 and closed at 708.30.

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.   

W S Industr. (Daily)                                                  

Last Close - 113.85 | Support - 102, 091 | Resistance - 117, 150

Trading Range - The scrip opened at 111.75, moved up to an intra-day high of 113.85, declined to an intra-day low of 111.75 and closed at 113.85.

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.   

Prime Property. (Daily)                                               

Last Close - 116.65 | Support - 102, 084 | Resistance - 117, 143

Trading Range - The scrip opened at 115.90, moved up to an intra-day high of 116.65, declined to an intra-day low of 112.60 and closed at 116.65.

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.       

Tilaknagar Ind. (Daily)

Last Close - 241.50 | Support - 232, 195 | Resistance - 287, 320

Trading Range - The scrip opened at 239.00, moved up to an intra-day high of 243.50, declined to an intra-day low of 237.00 and closed at 241.50.

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          

Scrip	Support	Last Close	Resistance	Trend
ACC	994, 965	1001.25	1025, 1099	Sd
DR. REDDY	712, 689	719.70	733, 760	Up
HUL	203, 192	215.55	216, 224	Tu
INFOSYS	1785, 1723	1810.90	1834, 1883	Tu
ITC	193, 180	197.90	213, 240	Up
RIL	2724, 2682	2788.05	2805, 2929	Tu
SATYAM	443, 425	454.55	471, 496	Tu
SBI	2279, 2180	2330.05	2331, 2415	Td
T MOTORS	722, 698	728.00	749, 771	Sd
TISCO	858, 820	862.50	890, 924	Tu

 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.