Stock picks of the day

The market has remained in a mixed state of mind, has come off its intra-day low and has finally ended the day in negative territory. Capital goods, healthcare, realty, banks, consumer durables, FMCG, metals, oil & PSUs have ended positive in varying degrees while IT, auto & tech have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed upbeat.

Sensex (Daily)

Last Close - 20206.95 | Support - 20035, 19984 | Resistance - 20238, 20498

Trading Range - The Sensex opened at 20158.12, moved up to an intra-day high of 20259.45, declined to an intra-day low of 20022.88 and closed at 20206.95. 

Review/Outlook - The Sensex has had a mixed trading session, has had a neutral 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 negative 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 20259 level while resistance at higher levels (20380) – 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 - 791.40 | Support - 750, 700 | Resistance - 800, 850

Trading Range - The scrip opened at 755.00, moved up to an intra-day high of 791.40, declined to an intra-day low of 753.00 and closed at 791.40.

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.   

Standard Ind. (Daily)

Last Close - 105.60 | Support - 089, 067 | Resistance - 111, 150

Trading Range - The scrip opened at 105.60, moved up to an intra-day high of 105.60, declined to an intra-day low of 101.00 and closed at 105.60.

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 - 133.00 | Support - 117, 102 | Resistance - 143, 160

Trading range - The scrip opened at 134.40, moved up to an intra-day high of 134.95, declined to an intra-day low of 127.00 and closed at 133.00.

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.       

Tilaknagar Ind. (Daily) 

Last Close -  268.90 | Support - 232, 195 | Resistance - 287, 320

Trading Range - The scrip opened at 263.95, moved up to an intra-day high of 268.90, declined to an intra-day low of 262.00 and closed at 268.90.

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.     

Daily Stock Track          

Scrip	Support	Last Close	Resistance	Trend
ACC	994, 965	1008.50	1025, 1099	Sd
DR. REDDY	712, 689	713.60	733, 760	Up
HUL	203, 192	215.95	216, 224	Tu
INFOSYS	1785, 1723	1795.75	1834, 1883	Tu
ITC	193, 180	205.50	213, 240	Up
RIL	2805, 2724	2898.35	2929, 2960	Tu
SATYAM	443, 425	449.60	471, 496	Tu
SBI	2331, 2279	2384.45	2415, 2468	Sd
T MOTORS	722, 698	730.75	749, 771	Tu
TISCO	924, 890	931.40	970, 1003	Up

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.