Stock picks of the day

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

Sensex (Daily)

Last Close - 15975.52 | Support - 15956, 15734  |   Resistance - 16308, 16416

Trading Range - The Sensex opened at 16211.96, moved up to an intra-day high of 16211.96, declined to an intra-day low of 15689.92 and closed at 15975.52. 

Review/Outlook - The Sensex has had a weak trading session, has had a negative 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 negative 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 15959 level while significant support at lower levels (15800) – would limit the downside. The outlook has turned negative again while resistance comes in at the 18800+ level and support comes in at the 16200 level.  

Refex Refrig. (Daily)                                                 

Last Close - 183.35 | Support - 178, 151 | Resistance - 202, 222

Trading Range - The scrip opened at 178.00, moved up to an intra-day high of 187.00, declined to an intra-day low of 174.00 and closed at 183.35.

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.   

Tempt. Foods. (Daily)                                                          

Last Close - 195.15 | Support - 178, 154 | Resistance - 199, 221

Trading Range - The scrip opened at 184.55, moved up to an intra-day high of 199.00, declined to an intra-day low of 184.25 and closed at 195.15.

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.   

St. Tr. Corp. (Daily)                                         

Last Close - 872.25 | Support - 754, 703 | Resistance - 919, 1086

Trading Range - The scrip opened at 860.00, moved up to an intra-day high of 872.25, declined to an intra-day low of 826.00 and closed at 872.25.

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.       

Spanco Tele. (Daily)                                              

Last Close - 179.55 | Support - 173, 142 | Resistance - 205, 229

Trading Range - The scrip opened at 171.05, moved up to an intra-day high of 183.00, declined to an intra-day low of 156.20 and closed at 179.55.

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          

Scrip	Support	Last Close	Resistance	Trend
ACC	724, 697	734.85	750, 778	Td
DR. REDDY	530, 487	569.45	579, 610	Tu
HUL	224, 216	226.65	240, 252	Tu
INFOSYS	1425, 1385	1432.80	1457, 1510	Td
ITC	180, 169	190.75	193, 213	Sd
RIL	2180, 2120	2248.80	2274, 2309	Dt
SATYAM	406, 385	423.75,	425, 443	Sd
SBI	1802, 1760	1841.80	1960, 2010	Dt
T MOTORS	670, 635	671.70	698, 722	Sd
T STEEL	762, 731	772.60	820, 858	Sd

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.