Stock picks for today

The market has actually moved just one way, has come off its intra-day high and has finally ended the day in negative territory. FMCG, Healthcare, IT, Banks, Oil, Metals, Capital Goods, Consumer Durables, Auto & PSU's have ended negative in varying degrees while no sector has ended in positive territory.

Volume registered a noticeable increase (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close -- 13799.49; Support -- 13790, 13723; Resistance -- 13857, 13931

Trading Range: The Sensex opened at 14007.67, moved up to an intra-day high of 14009.56, declined to an intra-day low of 13756.86 and closed at 13799.49.

Review/Outlook: The Sensex has reflected some amount of weakness by coming off sharply from its intra-day high after touching the 14000 level to give a downward bar reversal on the daily chart on distinctly higher volume. A range bound movement seems to be on the cards while the intra-day charts seem to suggest the possibility of an intra-day downside but only below the 13756 level while intra-day support comes in at the 13701 -- 13713 levels indicating a limited downside.

FCI Oen (Daily)

Last Close -- 445.85; Support -- 435, 405; Resistance -- 456, 523

Trading Range: The scrip opened at 424.00, moved up to an intra-day high of 445.85, declined to an intra-day low of 424.00 and closed at 445.85.

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.

DCM Shriram (Daily)

Last Close -- 117.70; Support -- 099, 073; Resistance -- 121, 146

Trading Range: The scrip opened at 114.00, moved up to an intra-day high of 117.70, declined to an intra-day low of 111.00 and closed at 117.70.

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.

Simplex Real (Daily)

Last Close -- 254.20; Support -- 224, 193; Resistance -- 260, 305

Trading Range: The scrip opened at 243.00, moved up to an intra-day high of 254.20, declined to an intra-day low of 232.00 and closed at 254.20.

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.

Peninsula Land (Daily)

Last Close -- 694.15; Support -- 661, 613; Resistance -- 700, 750

Trading Range: The scrip opened at 675.00, moved up to an intra-day high of 697.00, declined to an intra-day low of 670.00 and closed at 694.15.

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.

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