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

Sensex (Daily)                                                                     

Last Close - 16525.37 | Support - 16416, 16308 | Resistance - 16681, 16964

Trading Range - The Sensex opened at 16358.62, moved up to an intra-day high of 16563.30, declined to an intra-day low of 16217.78 and closed at 16525.37. 

Review/Outlook - The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has faced 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 upside (seems like a distinct possibility) could come in above the 16533 level while significant resistance at higher levels (16609) - would limit the upside. 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 - 269.00 | Support - 253, 221 | Resistance - 280, 303

Trading Range - The scrip opened at 267.50, moved up to an intra-day high of 269.70, declined to an intra-day low of 261.05 and closed at 269.00.

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.   

Goldst Infra. (Daily)                                                    

Last Close - 067.90 | Support - 059, 042 | Resistance - 070, 091

Trading Range - The scrip opened at 066.30, moved up to an intra-day high of 067.90, declined to an intra-day low of 065.00 and closed at 067.90.

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.   

Int'nl Comb. (Daily)                                            

Last Close - 406.70 | Support - 387, 345 | Resistance - 430, 488

Trading Range - The scrip opened at 399.00, moved up to an intra-day high of 413.75, declined to an intra-day low of 387.00 and closed at 406.70.

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.       

Kiri Dyes. (Daily)                                                    

Last Close - 176.55 | Support - 159, 129 | Resistance - 181, 204

Trading Range - The scrip opened at 174.00, moved up to an intra-day high of 178.50, declined to an intra-day low of 173.00 and closed at 176.55.

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

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.