Stock picks of the day

The market has remained in a mixed state of mind, has come off its intra-day low and has finally ended the day in positive territory. Metal, Capital Goods, Auto, Consumer Durables, FMCG, Oil & Psu's have ended positive in varying degrees while Banks, Healthcare & IT have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 15732.20 | Support - 15683, 15650 | Resistance - 15800, 15900

Trading Range - The Sensex opened at 15560.57, moved up to an intra-day high of 15773.37, declined to an intra-day low of 15477.91 and closed at 15732.20.

Review/Outlook - The Sensex has had a mixed trading session, has had a decent opening, has depreciated after facing selling pressure at higher levels, but has come off from its intra - day low and has finally ended in positive territory on clearly lower volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 15773 level while some resistance at higher levels (15800) - could limit the upside. The outlook seems to have turned better again while resistance comes in at the 16000+ level and support comes in at the 14600 level.

Godavari Fert. (Daily)

Last Close - 130.20 | Support - 114, 093 | Resistance - 135, 160

Trading Range - The scrip opened at 132.00, moved up to an intra-day high of 136.40, declined to an intra-day low of 126.10 and closed at 130.20.

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.

Radha Madhav. (Daily)

Last Close - 076.35 | Support - 074, 062 | Resistance - 079, 087

Trading Range - The scrip opened at 071.70, moved up to an intra-day high of 076.35, declined to an intra-day low of 071.70 and closed at 076.35.

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.

Action Const. (Daily)

Last Close - 302.65 | Support - 266, 235 | Resistance - 305, 336

Trading Range - The scrip opened at 266.00, moved up to an intra-day high of 302.65, declined to an intra-day low of 266.00 and closed at 302.65.

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.

Mcd Holdings. (Daily)

Last Close - 245.45 | Support - 237, 201 | Resistance - 259, 315

Trading Range - The scrip opened at 217.00, moved up to an intra-day high of 245.45, declined to an intra-day low of 217.00 and closed at 245.45.

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.