Stock picks of the day

The market has remained in a negative state of mind, has come off its intra-day high and has finally ended the day in negative territory. Capital Goods, FMCG, Healthcare, Auto, IT, Banks, Metals, PSU, Consumer Durables & Oil have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a sharp increase (read as turnover) while the undertone seemed shaky.

Sensex

Last Close - 14358.21 | Support - 14325, 14243 | Resistance - 14454, 14524

Trading Range - The Sensex opened at 14584.92, moved up to an intra-day high of 14584.92, declined to an intra-day low of 14345.03 and closed at 14358.21.

Review/Outlook - The Sensex has had a weak trading session, has had a weak opening, has depreciated after facing selling pressure even at lower levels, has come off from its intra - day high and has finally ended in negative territory on clearly higher volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 14345 level while strong support at lower levels (14150) - would limit the downside while a late recovery cannot be ruled out. The outlook seems to have turned weak again while resistance comes in at the 16000+ level and support comes in at the 14150 level.

Indian Hume Pipe

Last Close - 407.75 | Support - 384, 355 | Resistance - 438, 479

Trading Range - The scrip opened at 402.00, moved up to an intra-day high of 420.00, declined to an intra-day low of 395.00 and closed at 407.75.

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.

Bombay Burmah

Last Close - 472.85 | Support - 437, 386 | Resistance - 492, 520

Trading Range - The scrip opened at 455.00, moved up to an intra-day high of 490.45, declined to an intra-day low of 455.00 and closed at 472.85.

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.

Artefact Proj

Last Close - 087.85 | Support - 085, 071 | Resistance - 101, 124

Trading Range - The scrip opened at 081.00, moved up to an intra-day high of 088.45, declined to an intra-day low of 081.00 and closed at 087.85.

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.

Accent Tech

Last Close - 240.95 | Support - 220, 195 | Resistance - 250, 300

Trading Range - The scrip opened at 227.00, moved up to an intra-day high of 242.40, declined to an intra-day low of 219.40 and closed at 240.95.

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.

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.