Stock picks of the day

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, IT, Realty, Consumer Durables, Healthcare, Auto, Oil, Metal, Banks, PSU & Capital Goods have ended positive in varying degrees while the Tech sector has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed better.

Sensex (Daily)                                                                     

Last Close - 19976.23 | Support - 19621, 19276 | Resistance - 20000, 20200

Trading Range - The Sensex opened at 19364.61, moved up to an intra-day high of 20026.00, declined to an intra-day low of 19255.77 and closed at 19976.23. 

Review/Outlook - The Sensex has had a mixed trading session, has had a weak opening, has moved both ways, has received buying support at lower levels, has come off from its intra - day low and has finally ended in positive territory on clearly lower volume. Volatility can be the order of the day; an intra-day upside (seems like a distinct possibility) could come in above the 19999 level while resistance at higher levels (20204) – would limit the upside. The outlook has turned bullish again while resistance comes in at the 21200+ level and support comes in at the 17300 level. 

Refex Refrig. (Daily)                                                   

Last Close - 166.50 | Support - 149, 119 | Resistance - 175, 200

Trading Range - The scrip opened at 161.00, moved up to an intra-day high of 166.50, declined to an intra-day low of 152.00 and closed at 166.50.

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.   

Transcorp In. (Daily)                                                  

Last Close - 070.00 | Support - 059, 043 | Resistance - 075, 100

Trading Range - The scrip opened at 069.00, moved up to an intra-day high of 070.00, declined to an intra-day low of 061.00 and closed at 070.00.

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.   

Rishi Laser. (Daily)                                             

Last Close - 158.10 | Support - 136, 101 | Resistance - 175, 200

Trading Range - The scrip opened at 158.10, moved up to an intra-day high of 158.10, declined to an intra-day low of 140.00 and closed at 158.10.

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.       

Asian Oil. (Daily)                                                     

Last Close - 144.00 | Support - 129, 108 | Resistance - 148, 175

Trading Range - The scrip opened at 134.00, moved up to an intra-day high of 144.00, declined to an intra-day low of 133.00 and closed at 144.00.

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.