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. Banks, Capital Goods, IT, Auto, Oil, PSU, Metal, Realty, Consumer Durables, FMCG & Healthcare have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed upbeat.

Sensex

Last Close - 16371.29 | Support - 16309, 15956 | Resistance - 16416, 16681

Trading Range - The Sensex opened at 16100.26, moved up to an intra-day high of 16452.08, declined to an intra-day low of 15884.45 and closed at 16371.29.

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 in positive 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 16359 level while significant support at lower levels (16165) - would limit the downside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 14700 level.

VIP Industries

Last Close - 097.40 | Support - 083, 059 | Resistance - 106, 132

Trading Range - The scrip opened at 091.10, moved up to an intra-day high of 097.90, declined to an intra-day low of 091.10 and closed at 097.40.

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.

Northgate Tech

Last Close - 447.05 | Support - 410, 371 | Resistance - 484, 553

Trading Range - The scrip opened at 440.00, moved up to an intra-day high of 466.85, declined to an intra-day low of 422.00 and closed at 447.05.

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.

Jupiter Biosc

Last Close - 148.70 | Support - 145, 123 | Resistance - 175, 201

Trading Range - The scrip opened at 141.00, moved up to an intra-day high of 150.00, declined to an intra-day low of 138.25 and closed at 148.70.

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.

I.C.S.A. Ltd

Last Close - 427.05 | Support - 416, 363 | Resistance - 474, 527

Trading Range - The scrip opened at 424.00, moved up to an intra-day high of 440.00, declined to an intra-day low of 396.30 and closed at 427.05.

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.

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.