Stock picks of the day

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

Sensex (Daily)                                                                     

Last Close - 15504.43 | Support - 15440, 15341 | Resistance - 15773, 15812

Trading Range - The Sensex opened at 15664.74, moved up to an intra-day high of 15726.06, declined to an intra-day low of 15467.46 and closed at 15504.43. 

Review/Outlook - The Sensex has had a mixed trading session, has had a strong opening, has depreciated after facing selling pressure at higher levels, has come off from its intra - day high and has finally ended in negative territory on clearly lower volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 15467 level while support at lower levels (15350) - would limit the downside. The outlook has turned bullish again while resistance comes in at the 16400+ level and support comes in at the 14005 level. 

Modern Steel. (Daily)                                                 

Last Close - 111.85 | Support - 105, 079 | Resistance - 122, 149

Trading Range - The scrip opened at 109.50, moved up to an intra-day high of 111.85, declined to an intra-day low of 109.00 and closed at 111.85.

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

Aarvee Denim. (Daily)                                                

Last Close - 091.80 | Support - 075, 058 | Resistance - 097, 119

Trading Range - The scrip opened at 090.70, moved up to an intra-day high of 091.80, declined to an intra-day low of 090.70 and closed at 091.80.

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

Networth Stk. (Daily)                                         

Last Close - 104.15 | Support - 096, 081 | Resistance - 120, 144

Trading Range - The scrip opened at 103.90, moved up to an intra-day high of 104.15, declined to an intra-day low of 102.05 and closed at 104.15.

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

Flat Products. (Daily)                                               

Last Close - 496.65 | Support - 445, 378 | Resistance - 500, 550

Trading Range - The scrip opened at 496.65, moved up to an intra-day high of 496.65, declined to an intra-day low of 482.65 and closed at 496.65.

Review/Outlook - The scrip has reflected strength by appreciating 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 not only be having positions but could even be having contrary positions in the stocks mentioned above.