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

Sensex

Last Close - 15572.18 | Support - 15322, 15160 | Resistance - 15638, 15738

Trading Range - The Sensex opened at 15914.41, moved up to an intra-day high of 15970.70, declined to an intra-day low of 15526.50 and closed at 15572.18.

Review/Outlook - The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has faced selling pressure at higher levels, has come off from its intra - day high and has finally ended sharply in negative territory on lower volume. Volatility can be the order of the day; an intra-day downside (seems like a formality) could come in below the 15572 level while significant support at lower levels (15000) - would limit the downside. The outlook has turned weak again while resistance comes in at the 16341+ level and support comes in at the 14700 level.

Axis Bank

Last Close - 760.20 | Support - 731, 692 | Resistance - 777, 851

Trading Range - The scrip opened at 780.00, moved up to an intra-day high of 788.00, declined to an intra-day low of 756.00 and closed at 760.10.

Review/Outlook - The scrip has reflected weakness by depreciating from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Zicom Elec

Last Close - 167.50 | Support - 151, 111 | Resistance - 182, 240

Trading Range - The scrip opened at 161.10, moved up to an intra-day high of 169.00, declined to an intra-day low of 161.50 and closed at 167.50.

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.

Refex Refrig

Last Close - 234.25 | Support - 221, 186 | Resistance - 276, 305

Trading Range - The scrip opened at 234.50, moved up to an intra-day high of 235.00, declined to an intra-day low of 228.10 and closed at 234.25.

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.

Sterling Biotech

Last Close - 199.00 | Support - 196, 180 | Resistance - 202, 223

Trading Range - The scrip opened at 200.10, moved up to an intra-day high of 203.00, declined to an intra-day low of 198.10 and closed at 199.00.

Review/Outlook - The scrip has reflected weakness by depreciating from its intra-day high and with the indicators looking negative, a further downside 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.