Stock picks of the day

The market has remained in a weak state of mind, has come off its intra-day high and has finally ended the day in negative territory. Consumer Durables, Fmcg, Oil, Psu, Realty, Capital Goods, Metals, Banks & Auto have ended negative in varying degrees while Healthcare & IT have ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed shaky.

Sensex

Last Close - 14724.18 | Support - 14431, 14046 | Resistance - 14732, 15037

Trading Range - The Sensex opened at 15017.68, moved up to an intra-day high of 15033.28, declined to an intra-day low of 14686.66 and closed at 14724.18.

Review/Outlook - The Sensex has had a weak trading session, has had a negative opening, has moved just one way, has faced selling pressure at lower levels, has come off from its intra - day high and has finally ended in negative territory on higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility - after an initial decline) could come in above the 14732 level while significant resistance at higher levels (14902) - would limit the upside. The outlook has turned positive again while resistance comes in at the 15900+ level and support comes in at the 12780 level.

Camp. & Alld

Last Close - 091.40 | Support - 087, 061 | Resistance - 110, 136

Trading Range - The scrip opened at 088.00, moved up to an intra-day high of 091.40, declined to an intra-day low of 087.00 and closed at 091.40.

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.

Orissa Sponge

Last Close - 235.20 | Support - 214, 173 | Resistance - 259, 291

Trading Range - The scrip opened at 235.20, moved up to an intra-day high of 235.20, declined to an intra-day low of 216.50 and closed at 235.20.

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.

Shilchar Tec

Last Close - 101.85  | Support - 095, 078 | Resistance - 113, 153

Trading Range - The scrip opened at 092.20, moved up to an intra-day high of 101.85, declined to an intra-day low of 092.20 and closed at 101.85.

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.

Dhanus Tech

Last Close - 162.10 | Support - 153, 129 | Resistance - 197, 228

Trading Range - The scrip opened at 162.10, moved up to an intra-day high of 162.10, declined to an intra-day low of 159.00 and closed at 162.10.

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.

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.