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 negative territory. Healthcare, Capital Goods, Auto, Metal & PSU have ended positive in varying degrees while Oil, FMCG, Banks, Consumer Durables, IT & Realty have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed shaky.

Sensex (Daily)                                                                          

Last Close - 17824.48 | Support - 17711, 17494 | Resistance - 17983, 18319

Trading Range - The Sensex opened at 17810.52, moved up to an intra-day high of 17921.51, declined to an intra-day low of 17690.16 and closed at 17824.48. 

Review/Outlook - The Sensex has had a mixed trading session, has had a neutral opening, has moved both ways, has received buying support at lower levels, has come off from its intra - day low and has finally ended barely 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 17815 level while significant support at lower levels (17642) – would limit the downside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 16200 level.  

Mercator Lines. (Daily)                                                     

Last Close - 098.30 | Support - 093, 076 | Resistance - 111, 143

Trading Range - The scrip opened at 097.60, moved up to an intra-day high of 098.30, declined to an intra-day low of 095.50 and closed at 098.30.

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.   

Marg Const. (Daily)                                                           

Last Close - 422.35 | Support - 393, 316 | Resistance - 442, 508

Trading Range – The scrip opened at 414.50, moved up to an intra-day high of 426.00, declined to an intra-day low of 400.00 and closed at 422.35.

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.   

Prakash Ind. (Daily)                                                   

Last Close - 279.00 | Support - 259, 232  | Resistance - 301, 352

Trading Range - The scrip opened at 281.00, moved up to an intra-day high of 287.00, declined to an intra-day low of 277.05 and closed at 279.00.

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.        

Vakrangee Soft. (Daily)                                                  

Last Close - 238.40 | Support – 217, 184 | Resistance - 239, 285

Trading Range - The scrip opened at 228.00, moved up to an intra-day high of 247.25, declined to an intra-day low of 227.90 and closed at 238.40.

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.