Stock picks of the day

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

Sensex (Daily)

Last Close - 14228.88 | Support - 14171, 14035 | Resistance - 14243, 14325

Trading Range - The Sensex opened at 14273.17, moved up to an intra-day high of 14383.72, declined to an intra-day low of 14127.18 and closed at 14228.88.

Review/Outlook - The Sensex has reflected significant amount of strength by staging a smart upmove, has run into selling pressure, hasn't been able to sustain itself at higher levels, but has finally managed to end in positive territory on lower volume. Volatility can be the order of the day; an intra-day downside below the 14127 level seems like a possibility while some support can be expected at lower levels (14140) while an upside could come in only above the 14383 level. The outlook seems to have turned better while resistance comes in at the 14400+ level and support comes in at the 13800 level.

Schrader Duncan. (Daily)

Last Close - 164.50 | Support - 157, 133 | Resistance - 169, 202

Trading Range - The scrip opened at 153.05, moved up to an intra-day high of 164.50, declined to an intra-day low of 153.05 and closed at 154.50.

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.

Sujana Metal. (Daily)

Last Close - 146.55 | Support - 145, 123 | Resistance - 152, 175

Trading Range - The scrip opened at 143.70, moved up to an intra-day high of 147.45, declined to an intra-day low of 138.00 and closed at 146.55.

Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Kakatiya Cement. (Daily)

Last Close - 083.50 | Support - 077, 056 | Resistance - 089, 121

Trading Range - The scrip opened at 078.20, moved up to an intra-day high of 083.50, declined to an intra-day low of 076.25 and closed at 083.50.

Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Saregama Ind. (Daily)

Last Close - 230.75 | Support - 215, 186 | Resistance - 235, 258

Trading Range - The scrip opened at 210.00, moved up to an intra-day high of 233.65, declined to an intra-day low of 210.00 and closed at 230.75.

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.