Stock picks of the day

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

Sensex (Daily)                                                                          

Last Close - 16649.64 | Support - 16416, 16308 | Resistance - 16681, 16964

Trading Range - The Sensex opened at 16958.80, moved up to an intra-day high of 17054.34, declined to an intra-day low of 16626.11 and closed at 16649.64. 

Review/Outlook - The Sensex has had a weak trading session, has had a positive 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 distinct possibility) could come in below the 16639 level while significant support at lower levels (16546) - would limit the downside. The outlook is turning weak again while resistance comes in at the 17300+ level and support comes in at the 15300 level.  

Sterling Int. (Daily)                                                             

Last Close - 234.00 | Support - 221, 187  | Resistance - 253, 280

Trading Range - The scrip opened at 229.50, moved up to an intra-day high of 235.90, declined to an intra-day low of 229.50 and closed at 234.00.

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.   

Era Infra. (Daily)                                                 

Last Close - 631.85 | Support - 627, 582 | Resistance - 663, 701

Trading Range - The scrip opened at 630.00, moved up to an intra-day high of 645.40, declined to an intra-day low of 626.05 and closed at 631.85.

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.   

Balaji Tele. (Daily)                                                      

Last Close - 181.30 | Support - 173, 157 | Resistance - 197, 229

Trading Range - The scrip opened at 173.40, moved up to an intra-day high of 185.40, declined to an intra-day low of 171.60 and closed at 181.30.

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.       

Kiri Dyes. (Daily)                                            

Last Close - 166.50 | Support - 159, 129 | Resistance - 181, 204

Trading Range - The scrip opened at 163.00, moved up to an intra-day high of 171.70, declined to an intra-day low of 162.15 and closed at 166.50.

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.