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

Sensex (Daily)                                                                     

Last Close - 16564.23 | Support - 16500, 16300 | Resistance - 16700, 16900

Trading Range - The Sensex opened at 16352.32, moved up to an intra-day high of 16616.84, declined to an intra-day low of 16308.09 and closed at 16564.23. 

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 16617 level while resistance at higher levels (16800) - would limit the upside. The outlook has turned bullish again while resistance comes in at the 17200+ level and support comes in at the 15350 level.  

Hindoostan Spg. (Daily)                                                          

Last Close - 082.80 | Support - 071, 054 | Resistance - 091, 112

Trading Range - The scrip opened at 081.80, moved up to an intra-day high of 082.80, declined to an intra-day low of 079.05 and closed at 082.80.

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.   

Swan Mills. (Daily)                                                     

Last Close - 115.05 | Support - 108, 071 | Resistance - 126, 150

Trading Range - The scrip opened at 112.00, moved up to an intra-day high of 115.45, declined to an intra-day low of 108.95 and closed at 115.05.

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 - 167.00 | Support - 139, 111 | Resistance - 179, 210

Trading Range - The scrip opened at 165.00, moved up to an intra-day high of 167.00, declined to an intra-day low of 165.00 and closed at 167.00.

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.     

Atlanta Ltd. (Daily)                                                  

Last Close - 308.55 | Support - 294, 244 | Resistance - 324, 417

Trading Range - The scrip opened at 281.55, moved up to an intra-day high of 308.55, declined to an intra-day low of 280.55 and closed at 308.55.

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.