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

Sensex (Daily)

Last Close - 17491.39 | Support – 17361, 17188| Resistance – 17494, 17953

Trading Range - The Sensex opened at 17901.94, moved up to an intra-day high of 17982.59, declined to an intra-day low of 17322.14 and closed at 17491.39. 

Review/Outlook - The Sensex has had a mixed trading session, has had a good opening, has moved both ways, has faced 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 17322 level while support at lower levels (17144) – would limit the downside. The outlook has turned bullish again while resistance comes in at the 19200+ level and support comes in at the 16800 level. 

Panch. Steel. (Daily)    

Last Close - 310.50 | Support – 275, 228 | Resistance - 325, 350

Trading Range - The scrip opened at 255.00, moved up to an intra-day high of 318.00, declined to an intra-day low of 225.10 and closed at 310.50.

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.   

Ifb Agro. (Daily)

Last Close - 098.85 | Support – 095, 077 | Resistance - 102, 116

Trading Range - The scrip opened at 098.90, moved up to an intra-day high of 100.10, declined to an intra-day low of 094.00 and closed at 098.85.

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.  

Pan Packaging. (Daily)

Last Close - 428.85 | Support - 408, 375| Resistance - 450, 500

Trading Range - The scrip opened at 418.00, moved up to an intra-day high of 428.85, declined to an intra-day low of 417.00 and closed at 428.85.

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.     

Birla Kenna. (Daily)

Last Close - 550.25 | Support - 550, 500 | Resistance - 600, 650

Trading Range - The scrip opened at 534.90, moved up to an intra-day high of 560.00, declined to an intra-day low of 520.30 and closed at 550.25.

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           

Scrip	Support	Last Close	Resistance	Trend
ACC	1099, 1075	1115.10	1155, 1192	Sd
DR. REDDY	610, 579	629.10	645, 669	Sd
HUL	216, 203	221.05	224, 240	Sd
INFOSYS	1962, 1883	2000.45	2009, 2061	Up
ITC	168, 155	178.50	180, 193	Td
RIL	2364, 2309	2416.95	2426, 2500	Up
SATYAM	443, 425	455.55	471, 496	Up
SBI	1782, 1760	1782.65	1837, 1877	Up
T MOTORS	749, 722	764.40	771, 811	Up
TISCO	762, 731	789.00	808, 875	Up

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.