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 & PSU's have ended negative in varying degrees while Oil, Capital Goods, Consumer Durables, Realty, Banks, FMCG, Metals have ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed bullish.

Sensex

Last Close - 20812.65 | Support - 20700, 20498 | Resistance - 21000, 21300

Trading Range - The Sensex opened at 20637.21, moved up to an intra-day high of 20861.33, declined to an intra-day low of 20438.19 and closed at 20812.65.

Review/Outlook - The Sensex has had a good trading session, has had a negative 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 20842 level while resistance at higher levels (20950) - 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

Last Close - 869.35 | Support - 839, 714 | Resistance - 957, 999

Trading Range - The scrip opened at 819.00, moved up to an intra-day high of 888.00, declined to an intra-day low of 795.25 and closed at 869.35.

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.

Kalpana Ind

Last Close - 181.85 | Support - 172, 129 | Resistance - 205, 245

Trading Range - The scrip opened at 174.90, moved up to an intra-day high of 181.85, declined to an intra-day low of 168.55 and closed at 181.85.

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.

Parenteral Drugs

Last Close - 186.65 | Support - 180, 156 | Resistance - 210, 245

Trading Range - The scrip opened at 186.65, moved up to an intra-day high of 186.65, declined to an intra-day low of 180.00 and closed at 186.65.

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.

Steel Exchange

Last Close - 184.15 | Support - 177, 160 | Resistance - 212, 249

Trading Range - The scrip opened at 184.00, moved up to an intra-day high of 184.15, declined to an intra-day low of 175.40 and closed at 184.15.

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.

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.

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.