Stock picks for today

The market has remained in a negative state of mind, has come off its intra-day high and has finally ended the day in negative territory. Banks, FMCG, PSU, Capital Goods, Consumer Durables, Metal, Healthcare, Auto, Oil & IT have ended positive in varying degrees while no sector has ended in negative territory.

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

Sensex (Daily)

Last Close -- 14935.77; Support -- 14830, 14723; Resistance -- 14964, 15115

Trading Range: The Sensex opened at 15344.02, moved up to an intra-day high of 15344.02, declined to an intra-day low of 14910.52 and closed at 14935.77.

Review/Outlook: The Sensex has had a negative trading session, has had a weak opening, has depreciated after facing selling pressure even at lower levels, has come off from its intra - day high and has finally ended in negative territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (is a possibility) could come in above the 15020 level while some support at lower levels (14805) -- could limit the downside. The outlook seems to have turned negative again while resistance comes in at the 16000+ level and support comes in at the 14800 level.

Hardcastle Waud (Daily)

Last Close -- 206.15; Support -- 196, 171; Resistance -- 223, 245

Trading Range: The scrip opened at 201.00, moved up to an intra-day high of 206.15, declined to an intra-day low of 201.00 and closed at 206.15.

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.

Mount Shivalik (Daily)

Last Close -- 086.00; Support -- 080, 067; Resistance -- 088, 100

Trading Range: The scrip opened at 086.00, moved up to an intra-day high of 086.00, declined to an intra-day low of 082.35 and closed at 086.00.

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.

Kanoi Paper (Daily)

Last Close -- 022.70; Support -- 019, 014; Resistance -- 025, 032

Trading Range: The scrip opened at 020.00, moved up to an intra-day high of 022.70, declined to an intra-day low of 020.00 and closed at 022.70.

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.

Sulzer India (Daily)

Last Close -- 466.40; Support -- 448, 414; Resistance -- 475, 500

Trading Range: The scrip opened at 435.95, moved up to an intra-day high of 466.40, declined to an intra-day low of 435.95 and closed at 466.40.

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.

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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.