Stock picks of the day

The market has faced resistance at higher levels, has come off its intra-day high and has finally ended the day in positive territory. IT, Oil, Metals, Capital Goods & FMCG have ended positive in varying degrees while Banks, Consumer Durables, Auto, healthcare & PSU's sector have ended in negative territory. Volume registered a nominal decrease (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)

Last Close - 13937.65 | Support - 13931, 13857 | Resistance - 14000, 14100

Trading Range - The Sensex opened at 14028.47, moved up to an intra-day high of 14028.47, declined to an intra-day low of 13905.65 and closed at 13937.65.

Review/Outlook - The Sensex has reflected surprising resilience to not only post a fresh all time high but has also given an all time high closing and has finally ended in positive territory on marginally lower volume. A range bound movement seems to be on the cards but an intra-day downside cannot be ruled out below the 13905 level while intra-day support comes in at the 13857 – 13868 levels indicating a limited downside.     

Orient Paper. (Daily)

Last Close - 615.55 | Support - 583, 488 | Resistance - 667, 760

Trading Range - The scrip opened at 586.00, moved up to an intra-day high of 615.55, declined to an intra-day low of 584.00 and closed at 615.55.

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 Eng. (Daily)

Last Close - 446.30 | Support - 441, 361 | Resistance - 465, 542

Trading Range - The scrip opened at 429.60, moved up to an intra-day high of 446.30, declined to an intra-day low of 426.00 and closed at 446.30.

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.

Arihant Found. (Daily)

Last Close - 528.95 | Support - 500, 450 | Resistance - 550, 600

Trading Range - The scrip opened at 482.50, moved up to an intra-day high of 528.95, declined to an intra-day low of 482.50 and closed at 528.95.

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.

Thiru Arooran. (Daily)

Last Close - 179.55 | Support - 173, 132 | Resistance - 192, 218

Trading Range - The scrip opened at 173.00, moved up to an intra-day high of 181.90, declined to an intra-day low of 173.00 and closed at 179.55.

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.

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.

Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.

Chat with market expert Pranav Sanghavi every Tuesday