Stock picks of the day

The market has had a volatile trading session to basically come off its intra-day low and has finally ended the day in positive territory. Consumer Durables, IT, Auto, PSU's, Oil, Banks, Capital Goods & Metals have ended positive in varying degrees while FMCG & Pharma have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed mixed.

Sensex (Daily)

Last Close - 11511.68 | Support - 11453, 11356 | Resistance - 11536, 11618

Trading Range - The Sensex opened at 11488.03, moved up to an intra-day high of 11531.60, declined to an intra-day low of 11375.90 and closed at 11511.68.

Review/Outlook - The Sensex has faced alternate bouts of both, buying & selling and has come off its intra-day low to just about end in positive territory on noticeably lower volume and has managed to close above the 11000 level for the ninth trading session in a row. The outlook seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts seem rather hazy and an upside could come in only above the 11532 level - the sanctity of the 11330 level needs to be maintained at all times.                 

Ansal Hsg. (Daily)

Last Close - 212.90 | Support - 201, 142 | Resistance - 251, 302

Trading Range - The scrip opened at 199.00, moved up to an intra-day high of 217.00, declined to an intra-day low of 195.20 and closed at 212.90.

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. 

Zuari Ind. (Daily)

Last Close - 187.05 | Support - 179, 148 | Resistance - 215, 272

Trading Range - The scrip opened at 180.00, moved up to an intra-day high of 187.05, declined to an intra-day low of 179.25 and closed at 187.05.

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.        

Nectar Life. (Daily)

Last Close - 142.10 | Support - 140, 118 | Resistance - 162, 199

Trading Range - The scrip opened at 138.00, moved up to an intra-day high of 142.10, declined to an intra-day low of 135.00 and closed at 142.10.

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.       

Patel Engg. (Daily)

Last Close - 327.30 | Support - 289, 228 | Resistance - 361, 449 

Trading Range - The scrip opened at 312.00, moved up to an intra-day high of 327.30, declined to an intra-day low of 312.00 and closed at 327.30.

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.