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. Banks, Oil, PSU, Tech, Realty, Capital Goods, FMCG, Auto & Metals have ended positive in varying degrees while Consumer Durables, Healthcare & IT sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed cautious.

Sensex (Daily)                                                                    

Last Close - 15669.12 | Support - 15650, 15580 | Resistance - 15773, 15812

Trading Range - The Sensex opened at 15547.07, moved up to an intra-day high of 15691.88, declined to an intra-day low of 15468.80 and closed at 15669.12. 

Review/Outlook - The Sensex has had a mixed trading session, has had a strong opening, has appreciated after receiving buying support even at higher levels, has come off from its intra-day low and has finally ended in positive territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (seems like a formality) could come in above the 15691 level while resistance at higher levels (15900) - would limit the upside. 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 - 117.10 | Support - 105, 079 | Resistance - 122, 149

Trading Range - The scrip opened at 113.40, moved up to an intra-day high of 117.40, declined to an intra-day low of 109.50 and closed at 117.10.

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 - 096.35 | Support - 075, 058 | Resistance - 097, 119

Trading Range - The scrip opened at 096.35, moved up to an intra-day high of 096.35, declined to an intra-day low of 092.10 and closed at 096.35.

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 - 106.75 | Support - 096, 081 | Resistance - 120, 144

Trading Range - The scrip opened at 105.00, moved up to an intra-day high of 107.40, declined to an intra-day low of 100.05 and closed at 106.75.

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 - 521.45 | Support - 500, 445 | Resistance - 550, 600

Trading Range - The scrip opened at 515.00, moved up to an intra-day high of 521.45, declined to an intra-day low of 496.65 and closed at 521.45.

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.