Stock picks of the day

The market has remained in a positive state of mind, has come off its intra-day low and has finally ended the day in positive territory. Healthcare, IT & Auto have ended negative in varying degrees while Oil, Psu's, Capital Goods, Consumer Durables, Realty, Banks, FMCG, Metals & Tech have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed bullish.

Sensex (Daily)                                                                     

Last Close - 20686.89 | Support - 20498, 20238 | Resistance - 20700, 21000

Trading Range - The Sensex opened at 20367.94, moved up to an intra-day high of 20762.80, declined to an intra-day low of 20367.94 and closed at 20686.89. 

Review/Outlook - The Sensex has had a good trading session, has had a positive opening, has moved just one way, has received buying support even at higher levels, has come off from its intra - day low 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 possibility) could come in above the 20700 level while resistance at higher levels (20800) - 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.  

Era Cons. (Daily)                                                        

Last Close - 808.75 | Support - 714, 604 | Resistance - 839, 957

Trading Range - The scrip opened at 743.45, moved up to an intra-day high of 808.75, declined to an intra-day low of 737.00 and closed at 808.75.

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.   

Orissa Spong. (Daily)                                                 

Last Close - 678.90 | Support - 619, 545 | Resistance - 728, 792

Trading Range - The scrip opened at 706.35, moved up to an intra-day high of 706.35, declined to an intra-day low of 650.10 and closed at 678.90.

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.   

Parenteral Drugs. (Daily)                                                 

Last Close - 177.80 | Support - 156, 127 | Resistance - 180, 210

Trading Range - The scrip opened at 168.00, moved up to an intra-day high of 177.80, declined to an intra-day low of 165.00 and closed at 177.80.

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.       

Steel Exchange. (Daily)                                            

Last Close - 175.40 | Support - 160, 132 | Resistance - 177, 212

Trading Range - The scrip opened at 158.70, moved up to an intra-day high of 175.40, declined to an intra-day low of 158.70 and closed at 175.40.

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.     

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.