Stock picks of the day

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

Sensex

Last Close - 14678.23 | Support - 14431, 14046 | Resistance - 14732, 15037

Trading Range - The Sensex opened at 14610.57, moved up to an intra-day high of 14746.20, declined to an intra-day low of 14584.03 and closed at 14678.23.

Review/Outlook - The Sensex has had a solid trading session, has had a positive opening, has moved just one way, has faced buying support even at higher levels, has come off from its intra - day low and has finally ended in positive territory on higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 14680 level while significant resistance at higher levels (14824) - would limit the upside and result in a late decline. 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 - 190.70 | Support - 172, 146 | Resistance - 199, 221

Trading Range - The scrip opened at 182.00, moved up to an intra-day high of 192.90, declined to an intra-day low of 182.00 and closed at 190.70.

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.

Goa Carbon

Last Close - 137.25 | Support - 116, 104 | Resistance - 139, 162

Trading Range - The scrip opened at 128.25, moved up to an intra-day high of 137.25, declined to an intra-day low of 128.25 and closed at 137.25.

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.

Walchand Ind

Last Close - 297.55 | Support - 283, 244 | Resistance - 329, 348

Trading Range - The scrip opened at 289.50, moved up to an intra-day high of 297.55, declined to an intra-day low of 284.00 and closed at 297.55.

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.

Orissa Sponge

Last Close - 270.10 | Support - 259, 214 | Resistance - 291, 339

Trading Range - The scrip opened at 270.10, moved up to an intra-day high of 270.10, declined to an intra-day low of 262.10 and closed at 270.10.

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.