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

Sensex

Last Close - 15422.31 | Support - 15330, 15037 | Resistance - 15734, 15956

Trading Range - The Sensex opened at 15744.21, moved up to an intra-day high of 15789.62, declined to an intra-day low of 15390.22 and closed at 15422.31.

Review/Outlook - The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has faced stiff selling pressure at higher levels, has come off from its intra - day high and has finally ended sharply in negative 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 15417 level while significant support at lower levels (15100) - would limit the downside. The outlook has turned weak again while resistance comes in at the 15800+ level and support comes in at the 14400 level.

Sterling Intnl

Last Close - 290.75 | Support - 280, 253 | Resistance - 303, 345

Trading Range - The scrip opened at 272.00, moved up to an intra-day high of 292.20, declined to an intra-day low of 271.90 and closed at 290.75.

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.

Wire & Wireless

Last Close - 031.35 | Support - 030, 024 | Resistance - 036, 042

Trading Range - The scrip opened at 033.00, moved up to an intra-day high of 033.30, declined to an intra-day low of 031.10 and closed at 031.35.

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.

Welspun Guj

Last Close - 373.00 | Support - 370, 317 | Resistance - 382, 413

Trading Range - The scrip opened at 378.00, moved up to an intra-day high of 386.45, declined to an intra-day low of 371.00 and closed at 373.00.

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.

Tata Comm

Last Close - 421.00 | Support - 412, 379 | Resistance - 447, 491

Trading Range - The scrip opened at 432.95, moved up to an intra-day high of 448.00, declined to an intra-day low of 417.05 and closed at 421.00.

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.