Stock picks of the day

The market has had a volatile trading session to basically decline from start to finish and has finally ended the day sharply in negative territory. Banks, FMCG, Pharma, IT, Metals, Consumer Durables, Auto, PSU, Capital Goods and Oil have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a marginal decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 10085.91 | Support - 10020, 09946 | Resistance - 10192, 10305

Trading Range - The Sensex opened at 10336.38, moved up to an intra-day high of 10336.38, declined to an intra-day low of 10035.24 and closed at 10085.91.

Review/Outlook - The Sensex has once again reflected some amount of weakness by opening with a small downward gap to move down up virtually from open to close but surprisingly enough on slightly lower volume. The outlook has come under pressure again and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts would seem to suggest a slightly oversold situation but it remains to be seen whether this translates into price action or not.      

Shree Ram. (Daily)

Last Close - 435.20 | Support - 432, 354 | Resistance - 479, 557

Trading Range - The scrip opened at 401.50, moved up to an intra-day high of 440.55, declined to an intra-day low of 381.10 and closed at 435.20.

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. 

Rane Engg. (Daily)

Last Close - 352.25 | Support - 338, 289 | Resistance - 372, 427

Trading Range - The scrip opened at 320.10, moved up to an intra-day high of 352.25, declined to an intra-day low of 320.00 and closed at 352.25.

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.      

Aegis Logistics. (Daily)

Last Close - 135.65 | Support - 133, 111 | Resistance - 155, 183

Trading Range - The scrip opened at 138.10, moved up to an intra-day high of 149.85, declined to an intra-day low of 135.65 and closed at 135.65.

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.      

Deccan Cement. (Daily)

Last Close - 138.75 | Support - 137, 123 | Resistance - 155, 172 

Trading Range - The scrip opened at 147.00, moved up to an intra-day high of 147.00, declined to an intra-day low of 138.75 and closed at 138.75.

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.

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