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, Consumer Durables, Auto, Metals, Oil & PSU's have ended positive in varying degrees while Banks, FMCG, Healthcare, IT, Realty & Tech have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)                                                                     

Last Close - 19289.83 | Support - 19276, 18833 | Resistance - 19621, 19984

Trading Range - The Sensex opened at 19552.53, moved up to an intra-day high of 19678.50, declined to an intra-day low of 19249.47 and closed at 19289.83. 

Review/Outlook - The Sensex has had a mixed trading session, has had a good 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 19288 level while support at lower levels (18833) – would limit the downside and lead to a late recovery. The outlook has turned bullish again while resistance comes in at the 21200+ level and support comes in at the 18833 level. 

Refex Refrig. (Daily)                                                    

Last Close - 186.50 | Support - 175, 149 | Resistance - 200, 225

Trading Range - The scrip opened at 180.90, moved up to an intra-day high of 186.50, declined to an intra-day low of 169.00 and closed at 186.50.

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 - 162.35 | Support - 139, 118 | Resistance - 180, 206

Trading Range - The scrip opened at 150.00, moved up to an intra-day high of 162.35, declined to an intra-day low of 146.40 and closed at 162.35.

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.   

Godrej Ind. (Daily)                                             

Last Close - 252.90 | Support - 241, 219 | Resistance - 275, 300

Trading Range - The scrip opened at 252.90, moved up to an intra-day high of 252.90, declined to an intra-day low of 231.00 and closed at 252.90.

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

Trading Range - The scrip opened at 172.40, moved up to an intra-day high of 174.60, declined to an intra-day low of 142.90 and closed at 167.20.

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.