Stock picks of the day

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

Sensex

Last Close - 17650.57 | Support - 17494, 17292 | Resistance - 17711, 17953

Trading Range - The Sensex opened at 17523.81, moved up to an intra-day high of 17674.06, declined to an intra-day low of 17137.99 and closed at 17650.57.

Review/Outlook - The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has received buying support at lower levels, has come off from its intra - day low and has finally ended sharply in positive territory on higher volume. Volatility can be the order of the day; an intra-day upside (seems like a distinct possibility) could come in above the 17671 level while significant resistance at higher levels (17800) - would limit the upside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 16200 level.

Madhucon Proj

Last Close - 675.05 | Support - 646, 562 | Resistance - 714, 780

Trading Range - The scrip opened at 696.00, moved up to an intra-day high of 696.00, declined to an intra-day low of 645.50 and closed at 675.05.

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.

Himadri Chem

Last Close - 653.05 | Support - 580, 514 | Resistance - 683, 765

Trading Range - The scrip opened at 637.00, moved up to an intra-day high of 664.00, declined to an intra-day low of 619.30 and closed at 653.05.

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.

Prakash Ind

Last Close - 257.30 | Support - 232, 188 | Resistance - 259, 301

Trading Range - The scrip opened at 253.00, moved up to an intra-day high of 257.30, declined to an intra-day low of 232.80 and closed at 257.30.

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.

Bank of Raj

Last Close - 174.85 | Support - 171, 139 | Resistance - 201, 242

Trading Range - The scrip opened at 172.00, moved up to an intra-day high of 176.80, declined to an intra-day low of 165.70 and closed at 174.85.

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.

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.