Stock picks of the day

The market has remained in a mixed state of mind, has come off its intra-day low and has finally ended the day in positive territory. Banks, Oil, Auto, IT, FMCG, Capital Goods, Realty, Metal & PSU have ended positive in varying degrees while Consumer Durables & Healthcare have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed better.

Sensex (Daily)                                                                     

Last Close - 16949.14 | Support - 16681, 16416 | Resistance - 16964, 17184

Trading Range - The Sensex opened at 16816.94, moved up to an intra-day high of 17141.06, declined to an intra-day low of 16725.68 and closed at 16949.14. 

Review/Outlook – The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has received buying support at lower levels, has come off from its intra - day low and has finally ended in positive territory on higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 16968 level while significant resistance at higher levels (17293) – would limit the upside. The outlook has turned negative again while resistance comes in at the 18800+ level and support comes in at the 16200 level.  

Era Infra. (Daily)                                                         

Last Close - 688.20 | Support - 646, 573 | Resistance - 697, 810

Trading Range - The scrip opened at 689.95, moved up to an intra-day high of 707.00, declined to an intra-day low of 677.00 and closed at 688.20.

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.   

Sagar Cement. (Daily)                                                

Last Close - 359.05 | Support - 325, 272 | Resistance - 360, 421

Trading Range - The scrip opened at 342.05, moved up to an intra-day high of 366.00, declined to an intra-day low of 341.00 and closed at 359.05.

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.   

Vakrangee Ltd. (Daily)                                       

Last Close - 206.70 | Support - 204, 184 | Resistance - 239, 262

Trading Range - The scrip opened at 202.95, moved up to an intra-day high of 211.00, declined to an intra-day low of 200.10 and closed at 206.70.

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.       

Orissa Sponge. (Daily)                                             

Last Close - 414.65 | Support - 382, 367 | Resistance - 418, 459

Trading Range - The scrip opened at 410.00, moved up to an intra-day high of 423.00, declined to an intra-day low of 389.65 and closed at 414.65.

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.