Stock tips for today

The market has remained in a negative frame of mind, has come off its intra-day high and has finally ended the day in negative territory. Banks, Capital Goods, FMCG, Consumer Durables, Metals, Auto, IT & Healthcare have ended negative in varying degrees while Oil & PSU's have ended in positive territory.

Volume registered a noticeable increase (read as turnover) while the undertone seemed shaky.

Sensex (Daily)

Last Close -- 14090.98; Support -- 14035, 13931; Resistance -- 14171, 14243

Trading Range: The Sensex opened at 14168.33, moved up to an intra-day high of 14363.74, declined to an intra-day low of 13957.70, and closed at 14090.98.

Review/Outlook: The Sensex has reflected significant amount of weakness, has declined from open to close, has remained negative to come off from its intra-day high and has finally ended in negative territory on distinctly higher volume. Volatility can be the order of the day, the negatives of the last trading session are expected to spill over to today's trading session indicating the possibility of an intra-day downside especially below the 14020 level while strong support at lower levels (13931) could lead to some stability at lower levels.

Taneja Aero. (Daily)

Last Close -- 251.80; Support -- 243, 225 ; Resistance -- 294, 325

Trading Range: The scrip opened at 240.00, moved up to an intra-day high of 252.45, declined to an intra-day low of 232.00 and closed at 251.80.

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.

Steel Strips. (Daily)

Last Close -- 231.00; Support -- 225, 195 ; Resistance -- 250, 275

Trading Range: The scrip opened at 195.00, moved up to an intra-day high of 231.00, declined to an intra-day low of 189.05 and closed at 231.00.

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.

Flat Products. (Daily)

Last Close -- 187.65; Support -- 164, 145 ; Resistance -- 192, 236

Trading Range: The scrip opened at 184.30, moved up to an intra-day high of 198.35, declined to an intra-day low of 178.00 and closed at 187.65.

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.

Suraj Stainless. (Daily)

Last Close -- 159.20; Support -- 150, 130 ; Resistance -- 175, 200

Trading Range: The scrip opened at 148.40, moved up to an intra-day high of 159.80, declined to an intra-day low of 138.60 and closed at 159.20.

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.

DISCLAIMER : While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.

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