Stock picks for today

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.

FMCG, Auto, Metal, Oil, Psu, Realty, Consumer Durables & Capital Goods have ended positive in varying degrees while Banks, Healthcare & IT have ended in negative territory.

Volume registered a noticeable decrease (read as turnover) while the undertone seemed stable.

Sensex (Daily)

Last Close | 14355.75; Support | 14046, 13872; Resistance | 14431, 14732

Trading Range: The Sensex opened at 14359.48, moved up to an intra-day high of 14369.59, declined to an intra-day low of 14161.76 and closed at 14355.75.

Review/Outlook: The Sensex has had a mixed trading session, has had a flat 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 lower volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 14349 level while significant support at lower levels (14171) | would limit the downside. The outlook has turned neutral again while resistance comes in at the 15300+ level and support comes in at the 12780 level.

Kolte Patil (Daily)

Last Close | 085.80; Support | 074, 046; Resistance | 092, 136

Trading Range: The scrip opened at 080.25, moved up to an intra-day high of 085.80, declined to an intra-day low of 074.50 and closed at 085.80.

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.

Gulf Oil (Daily)

Last Close | 081.75; Support | 074, 058; Resistance | 093, 126

Trading Range: The scrip opened at 082.20, moved up to an intra-day high of 083.00, declined to an intra-day low of 080.00 and closed at 081.75.

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.

Automotive Axles (Daily)

Last Close | 263.55; Support | 253, 219; Resistance | 291, 343

Trading Range: The scrip opened at 255.00, moved up to an intra-day high of 263.55, declined to an intra-day low of 201.05 and closed at 263.55.

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.

Goa Carbon (Daily)

Last Close | 116.70; Support | 116, 085; Resistance | 139, 162

Trading Range: The scrip opened at 116.50, moved up to an intra-day high of 116.70, declined to an intra-day low of 114.00 and closed at 116.70.

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.

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.