Stock picks of the day

The market staged a smart rally but has cooled off a bit from an intra-day point of view and has ended the day clearly in positive territory. Pharma, IT, oil & PSUs have ended positive in varying degrees while banks, capital goods, consumer durables, FMCG, auto and the metals sector has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed mixed.

Sensex (Daily) 

Last Close -  10804;  Support - 10800, 10740;  Resistance - 10900, 11000

Trading Range - The Sensex opened at 10796, moved up to an intra-day high of 10884, declined to an intra-day low of 10783 and closed at 10804.

Review/Outlook- The Sensex has once again created history to post a fresh all time high and has also closed at an all time high closing but surprisingly enough on lower volume. The outlook continues to remain positive while the intra-day charts seem to suggest some heaviness indicating the possibility of an intra-day downside only below the 10783 level.                          

Goldiam Int. (Daily)

Last Close - 128.55; Support - 126, 103; Resistance - 139, 171

Trading Range - The scrip opened at 126.45, moved up to an intra-day high of 128.55, declined to an intra-day low of 126.45 and closed at 128.55.

Review/Outlook - The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards. 

Ind. Inv. Trust. (Daily)

Last Close - 074.55; Support - 072, 063; Resistance - 084, 093

Trading Range - The scrip opened at 072.00, moved up to an intra-day high of 074.55, declined to an intra-day low of 071.65 and closed at 074.55.

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.

Renuka Sugar (Daily)    

Last Close – 1084.35; Support - 1047, 966; Resistance - 1098, 1200

Trading Range - The scrip opened at 1035.00, moved up to an intra-day high of 1084.35, declined to an intra-day low of 1025.00 and closed at 1084.35.

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. 

Unitech. (Daily)  

Last Close- 2325.90; Support - 2240, 2108; Resistance - 2350, 2400 

Trading Range - The scrip opened at 2298.70, moved up to an intra-day high of 2325.90, declined to an intra-day low of 2270.00 and closed at 2325.90.

Review/Outlook - The scrip has reflected strength by moving up virtually from open to close 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 be having positions in the stocks mentioned above.  

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