Stock picks of the day

The market has remained in a positive state of mind, has come off its intra-day low and has finally ended the day in positive territory. Consumer Durables, Healthcare, IT, Banks, Oil, PSU, Tech, Realty, Capital Goods, FMCG, Auto & Metals 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 bullish.

Sensex (Daily)

Last Close - 16322.75 | Support - 16300, 16100 | Resistance - 16500, 16700

Trading Range -The Sensex opened at 15940.75, moved up to an intra-day high of 16335.30, declined to an intra-day low of 15940.79 and closed at 16322.75. 

Review/Outlook - The Sensex has had a positive 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 possibility) could come in above the 16335 level while resistance at higher levels (16500) - would limit the upside. The outlook has turned bullish again while resistance comes in at the 16800+ level and support comes in at the 15350 level. 

Sakthi Sugar. (Daily) Last Close - 092.70 | Support - 078, 059| Resistance - 094, 107

Trading Range - The scrip opened at 070.00, moved up to an intra-day high of 092.70, declined to an intra-day low of 070.00 and closed at 092.70.

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.   

Goldstone Tech. (Daily)

Last Close - 148.95 | Support - 139, 112 | Resistance - 150, 175

Trading Range - The scrip opened at 148.95, moved up to an intra-day high of 148.95, declined to an intra-day low of 142.60 and closed at 148.95.

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.  

Cravatex Ltd. (Daily)

Last Close - 157.40 | Support - 139, 111 | Resistance - 179, 210

Trading Range - The scrip opened at 155.00, moved up to an intra-day high of 157.60, declined to an intra-day low of 145.10 and closed at 157.40.

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.     

Kamla Dials. (Daily)

Last Close - 092.75 | Support - 090, 074 | Resistance - 102, 125

Trading Range - The scrip opened at 090.20, moved up to an intra-day high of 092.80, declined to an intra-day low of 087.75 and closed at 092.75.

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.    

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.