Stock picks of the day

The market has remained in a better state of mind, has come off its intra-day low and has finally ended the day in positive territory. Capital Goods, Consumer Durables, FMCG, Auto, Metals, PSU, Banks, Healthcare, Oil, Realty & IT have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed better.

Sensex (Daily)                                                                     

Last Close - 17594.07 | Support - 17494, 17361 |  Resistance - 17953, 18319

Trading Range - The Sensex opened at 17415.26, moved up to an intra-day high of 17997.11, declined to an intra-day low of 16951.03 and closed at 17594.07. 

Review/Outlook - The Sensex has had a good trading session, has had a positive opening, has moved just one way, has faced selling pressure at higher levels, has come off from its intra - day high and has finally ended sharply in positive territory on higher volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 17579 level while significant support at lower levels (16800) - would limit the downside. The outlook has turned negative again while resistance comes in at the 19200+ level and support comes in at the 16210 level.  

C – Bop. (Daily)                                                         

Last Close - 058.05 | Support - 056, 049 | Resistance - 071, 090

Trading Range - The scrip opened at 055.10, moved up to an intra-day high of 061.30, declined to an intra-day low of 054.10 and closed at 058.05.

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.   

Pidilite Ind. (Daily)                                                      

Last Close - 175.50 | Support - 153, 121 | Resistance - 184, 218

Trading Range - The scrip opened at 147.50, moved up to an intra-day high of 175.50, declined to an intra-day low of 147.50 and closed at 175.50.

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.   

Diamond Cables. (Daily)                                                 

Last Close - 511.10 | Support - 499, 469 | Resistance - 555, 582

Trading Range - The scrip opened at 425.05, moved up to an intra-day high of 529.00, declined to an intra-day low of 425.05 and closed at 511.10.

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.       

Milkfood. (Daily)                                                     

Last Close - 383.75 | Support - 382, 348 | Resistance - 409, 463

Trading Range - The scrip opened at 390.00, moved up to an intra-day high of 395.10, declined to an intra-day low of 340.05 and closed at 383.75.

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.     

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.

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.