Stock picks of the day

The market has posted a fresh 3 month peak to basically come off its intra-day high and has finally ended the day in negative territory. Banks, FMCG & Pharma have ended positive in varying degrees while Auto, PSU, Oil, Metals, Capital Goods, Consumer Durables & IT have ended in negative territory. Volume registered a wafer-thin increase (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 10699.05 | Support - 11618, 11536 | Resistance - 11707, 11826

Trading Range - The Sensex opened at 11754.07, moved up to an intra-day high of 11794.43, declined to an intra-day low of 11675.08 and closed at 11699.05.

Review/Outlook - The Sensex has faced alternate bouts of both, buying & selling and has come off its intra-day high to end in negative territory on marginally higher volume and has managed to close above the 11000 level for the seventeenth trading session in a row. The outlook seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts seem to be pointing towards a slight downward bias today - the sanctity of the 11330 level needs to be maintained at all times.                         

Aegis Logistics. (Daily)

Last Close - 172.60 | Support - 155, 133 | Resistance - 183, 230

Trading Range - The scrip opened at 171.00, moved up to an intra-day high of 174.40, declined to an intra-day low of 167.30 and closed at 172.60.

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. 

Guj. Fluoro. (Daily) 

Last Close - 518.35 | Support - 464, 412 | Resistance - 550, 597

Trading Range - The scrip opened at 499.90, moved up to an intra-day high of 518.60, declined to an intra-day low of 493.00 and closed at 518.35.

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.        

Nitco Tiles. (Daily) 

Last Close - 200.75 | Support - 182, 157 | Resistance - 209, 237

Trading Range - The scrip opened at 185.00, moved up to an intra-day high of 200.75, declined to an intra-day low of 185.00 and closed at 200.75.

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.         

Vivimed Labs. (Daily)

Last Close - 182.65 | Support - 182, 166 | Resistance - 215, 249 

Trading Range - The scrip opened at 195.00, moved up to an intra-day high of 195.00, declined to an intra-day low of 182.65 and closed at 182.65.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside 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.

Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.