Stock picks of the day

The market has had a volatile trading session to basically come off its intra-day high and has finally ended the day in negative territory. Banks, Consumer Durables, FMCG & Pharma have ended positive in varying degrees while Auto, Capital Goods, IT, Metal, Oil & PSU sector have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 10812.64 | Support - 10740, 10662 | Resistance - 10884, 10947

Trading Range - The Sensex opened at 10863.28, moved up to an intra-day high of 10869.66, declined to an intra-day low of 10780.01 and closed at 10812.64.

Review/Outlook - The Sensex has into stiff selling pressure at higher levels and has declined from its intra-day high to end in negative territory on distinctly lower volume and has still failed to close above the 11000 level. The outlook seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts would seem to suggest inconclusive movements, a downside below the 10780 level cannot be ruled out - intra-day resistance comes in at the 10940 – 11000 level.       

Clariant Chem. (Daily)

Last Close - 264.80 | Support - 243, 221 | Resistance - 282, 318

Trading Range - The scrip opened at 257.10, moved up to an intra-day high of 264.80, declined to an intra-day low of 257.10 and closed at 264.80.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards. 

Marksans. (Daily)

Last Close - 107.75 | Support - 105, 087 | Resistance - 120, 047

Trading Range - The scrip opened at 103.00, moved up to an intra-day high of 107.75, declined to an intra-day low of 103.00 and closed at 107.75.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.         

Paramount Comm. (Daily)

Last Close - 140.80 | Support - 136, 114 | Resistance - 146, 177

Trading Range - The scrip opened at 131.00, moved up to an intra-day high of 140.85, declined to an intra-day low of 131.00 and closed at 140.80.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.        

Vakrangee Soft. (Daily)

Last Close - 143.70 | Support - 143, 130 | Resistance - 150, 200 

Trading Range - The scrip opened at 137.00, moved up to an intra-day high of 143.70, declined to an intra-day low of 137.00 and closed at 143.70.

Review/Outlook - The scrip has reflected strength by recovering 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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