Stock picks of the day

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

Sensex (Daily)                                                                     

Last Close - 18907.60 | Support - 18883, 18327 | Resistance - 19276, 19621

Trading Range - The Sensex opened at 19282.70, moved up to an intra-day high of 19329.57, declined to an intra-day low of 18737.22 and closed at 18907.60. 

Review/Outlook - The Sensex has had a mixed trading session, has had a strong opening, has moved both ways, has received selling pressure at higher levels, has come off from its intra - day high and has finally ended in negative territory on clearly lower volume. Volatility can be the order of the day; an intra-day downside (seems like a distinct possibility) could come in below the 18737 level while support at lower levels (18567) – would limit the downside. The outlook has turned bullish again while resistance comes in at the 21200+ level and support comes in at the 18833 level. 

Premier Auto. (Daily)                                                  

Last Close - 116.95 | Support - 095, 074 | Resistance - 125, 150

Trading Range - The scrip opened at 117.10, moved up to an intra-day high of 117.10, declined to an intra-day low of 115.00 and closed at 116.95.

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.   

Indo Borax. (Daily)                                                     

Last Close - 189.95 | Support - 180, 139 | Resistance - 206, 250

Trading Range - The scrip opened at 193.90, moved up to an intra-day high of 196.40, declined to an intra-day low of 180.00 and closed at 189.95.

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.   

Goldstone Tech. (Daily)                                                  

Last Close - 213.30 | Support - 194, 160 | Resistance - 225, 250

Trading Range - The scrip opened at 209.40, moved up to an intra-day high of 214.35, declined to an intra-day low of 206.55 and closed at 213.30.

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 - 170.20 | Support - 148, 129 | Resistance - 175, 200

Trading Range - The scrip opened at 164.00, moved up to an intra-day high of 171.15, declined to an intra-day low of 164.00 and closed at 170.20.

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.     

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.