Stock picks of the day

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

Sensex (Daily)                                                                     

Last Close - 16608.01 | Support - 16416, 16308 | Resistance - 16681, 16964

Trading Range - The Sensex opened at 16812.63, moved up to an intra-day high of 16966.72, declined to an intra-day low of 16565.48 and closed at 16608.01. 

Review/Outlook - The Sensex has had a mixed trading session, has had a positive 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 upside (seems like a possibility) could come in above the 16629 level while significant resistance at higher levels (16800) - would limit the upside. The outlook has turned negative again while resistance comes in at the 18800+ level and support comes in at the 16200 level.  

Era Infra. (Daily)                                                         

Last Close - 675.00 | Support - 646, 573 | Resistance - 697, 810

Trading Range - The scrip opened at 673.00, moved up to an intra-day high of 693.00, declined to an intra-day low of 660.00 and closed at 675.00.

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.   

Sagar Cement. (Daily)                                                

Last Close - 348.85 | Support -325, 272 | Resistance - 360, 421

Trading Range - The scrip opened at 335.20, moved up to an intra-day high of 356.80, declined to an intra-day low of 332.10 and closed at 348.85.

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.   

Vakrangee Ltd. (Daily)                                       

Last Close - 198.10 | Support - 184, 163 | Resistance - 204, 239

Trading Range - The scrip opened at 194.10, moved up to an intra-day high of 202.75, declined to an intra-day low of 187.00 and closed at 198.10.

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.       

Orissa Sponge. (Daily)                                             

Last Close - 410.15 | Support - 382, 367 | Resistance - 418, 459

Trading Range - The scrip opened at 391.00, moved up to an intra-day high of 422.55, declined to an intra-day low of 382.35 and closed at 410.15.

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.     

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.