Stock picks of the day

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

Sensex

Last Close - 14543.73 | Support - 14431, 14046 | Resistance - 14732, 15037

Trading Range - The Sensex opened at 14517.76, moved up to an intra-day high of 14604.11, declined to an intra-day low of 14368.72 and closed at 14543.73.

Review/Outlook - The Sensex has had a mixed trading session, has had a negative 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 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 14539 level while significant support at lower levels (14400) - would limit the downside and result in a recovery. The outlook has turned neutral again while resistance comes in at the 15900+ level and support comes in at the 12780 level.

Ranklin Sol

Last Close - 180.65 | Support - 172, 146 | Resistance - 199, 221

Trading Range - The scrip opened at 176.00, moved up to an intra-day high of 184.50, declined to an intra-day low of 176.00 and closed at 180.65.

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.

Fortis Fin. Ser

Last Close - 123.70 | Support - 102, 086 | Resistance - 125, 149

Trading Range - The scrip opened at 123.75, moved up to an intra-day high of 123.75, declined to an intra-day low of 119.90 and closed at 123.70.

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.

Walchand Ind

Last Close - 283.40 | Support - 283, 244 | Resistance - 329, 348

Trading Range - The scrip opened at 270.00, moved up to an intra-day high of 286.15, declined to an intra-day low of 267.30 and closed at 283.40.

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 - 257.25 | Support - 214, 173 | Resistance - 259, 291

Trading Range - The scrip opened at 225.00, moved up to an intra-day high of 257.25, declined to an intra-day low of 225.00 and closed at 257.25.

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.

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.