Stock picks of the day

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

Sensex

Last Close - 17758.64 | Support - 17494, 17361 | Resistance - 17953, 18319

Trading Range - The Sensex opened at 18120.22, moved up to an intra-day high of 18129.18, declined to an intra-day low of 17683.51 and closed at 17758.64.

Review/Outlook - The Sensex has had a mixed trading session, has had a neutral opening, has moved both ways, has received selling pressure at higher levels, has come off from its intra - day high and has finally ended in negative territory on lower volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 17742 level while significant support at lower levels (17500) - would limit the downside. The outlook has turned neutral again while resistance comes in at the 19200+ level and support comes in at the 16210 level.

Vijay Shanti

Last Close - 109.60 | Support - 105, 073 | Resistance - 118, 144

Trading Range - The scrip opened at 102.00, moved up to an intra-day high of 109.75, declined to an intra-day low of 102.00 and closed at 109.60.

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.

Godrej Ind

Last Close - 324.10 | Support - 307, 258 | Resistance - 366, 419

Trading Range - The scrip opened at 324.10, moved up to an intra-day high of 324.10, declined to an intra-day low of 310.00 and closed at 324.10.

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.

Essar Shipp

Last Close - 223.35 | Support - 199, 158 | Resistance - 244, 277

Trading Range - The scrip opened at 224.00, moved up to an intra-day high of 224.00, declined to an intra-day low of 206.30 and closed at 223.35.

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.

Sanwaria Agr

Last Close - 141.50 | Support - 131, 094 | Resistance - 151, 183

Trading Range - The scrip opened at 136.15, moved up to an intra-day high of 141.50, declined to an intra-day low of 136.15 and closed at 141.50.

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.

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.