Stock picks for today

The market has remained in a negative state of mind, has come off its intra-day high and has finally ended the day in negative territory.

IT, banks, PSU, oil, FMCG, capital goods, healthcare & realty have ended negative in varying degrees while consumer durables, auto & metal have ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed subdued.

Sensex(Daily)

Last Close | 17230.18; Support | 16964, 16681; Resistance | 17292, 17494

Trading Range: The Sensex opened at 17366.05, moved up to an intra-day high of 17367.13, declined to an intra-day low of 17136.26 and closed at 17230.18.

Review/Outlook: The Sensex has had a weak trading session, has had a negative opening, has moved just one way, has faced selling pressure even at lower 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 downside (seems like a possibility) could come in below the 17221 level while significant support at lower levels (17137) | would limit the downside and lead to a late recovery. The outlook is turning stable again while resistance comes in at the 17300+ level and support comes in at the 15300 level.

Fortis Fin. Ser. (Daily)

Last Close | 210.95; Support | 193, 171; Resistance | 213, 260

Trading Range: The scrip opened at 214.00, moved up to an intra-day high of 216.10, declined to an intra-day low of 205.00 and closed at 210.95.

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.

Sterling Int. (Daily)

Last Close | 237.10; Support | 221, 187; Resistance | 253, 280

Trading Range: The scrip opened at 230.00, moved up to an intra-day high of 237.30, declined to an intra-day low of 230.00 and closed at 237.10.

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.

Ranklin Sol. (Daily)

Last Close | 149.40; Support | 146, 123; Resistance | 172, 221

Trading Range: The scrip opened at 134.00, moved up to an intra-day high of 154.75, declined to an intra-day low of 133.25 and closed at 149.40.

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.

Brushman Ind. (Daily)

Last Close | 118.85; Support | 108, 085; Resistance | 127, 153

Trading Range: The scrip opened at 118.85, moved up to an intra-day high of 118.85, declined to an intra-day low of 113.65 and closed at 118.85.

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.  

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.