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, Metal, PSU, Capital Goods, FMCG, Consumer Durables, IT, Realty, Healthcare, Oil & Auto have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed panicky.

Sensex

Last Close - 13469.85 | Support - 13406, 13146 | Resistance - 13554, 13780

Trading Range - The Sensex opened at 14032.06, moved up to an intra-day high of 14066.36, declined to an intra-day low of 13351.34 and closed at 13469.85.

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 higher volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 13449 level while significant support at lower levels (13345) - would limit the downside. The outlook has turned neutral again while resistance comes in at the 14700+ level and support comes in at the 12800 level.

Gremac Infra

Last Close - 096.05 | Support - 087, 064 | Resistance - 104, 132

Trading Range - The scrip opened at 096.45, moved up to an intra-day high of 096.45, declined to an intra-day low of 093.50 and closed at 096.45.

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.

Walchand Ind

Last Close - 271.20 | Support - 244, 215 | Resistance - 283, 329

Trading Range - The scrip opened at 271.20, moved up to an intra-day high of 271.20, declined to an intra-day low of 266.00 and closed at 271.20.

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.

Gemini Comm

Last Close - 146.20 | Support - 132, 109 | Resistance - 154, 175

Trading Range - The scrip opened at 142.00, moved up to an intra-day high of 146.20, declined to an intra-day low of 142.00 and closed at 146.20.

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.

Prajay Engg

Last Close - 073.60 | Support - 069, 049 | Resistance - 099, 124

Trading Range - The scrip opened at 067.70, moved up to an intra-day high of 078.40, declined to an intra-day low of 066.55 and closed at 073.60.

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.

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.