Stock picks for today

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, capital goods, FMCG, healthcare, metals, PSUs, & tech have ended positive in varying degrees while banks, IT, oil & realty have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close -- 19529.50; Support -- 19276, 18833; Resistance -- 19621, 19984

Trading Range: The Sensex opened at 19707.59, moved up to an intra-day high of 19707.86, declined to an intra-day low of 19482.34 and closed at 19529.50.

Review/Outlook: The Sensex has had a mixed trading session, has had a strong opening, has moved both ways, has received 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; a mild intra-day downside (seems like a possibility) could come in below the 19482 level while support at lower levels (19422) -- would limit the downside. The outlook has turned positive again while resistance comes in at the 20200+ level and support comes in at the 18833 level.

Ashiana Hous. (Daily)

Last Close -- 525.95; Support -- 489, 445; Resistance -- 532, 575

Trading Range: The scrip opened at 518.00, moved up to an intra-day high of 525.95, declined to an intra-day low of 501.00 and closed at 525.95.

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.

Usher Agro. (Daily)

Last Close -- 081.10; Support -- 072, 052; Resistance -- 095, 120

Trading Range: The scrip opened at 074.00, moved up to an intra-day high of 081.10, declined to an intra-day low of 071.65 and closed at 081.10.

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.

Jindal Photo. (Daily)

Last Close -- 272.00; Support -- 259, 217; Resistance -- 311, 350

Trading Range: The scrip opened at 267.00, moved up to an intra-day high of 272.00, declined to an intra-day low of 263.00 and closed at 272.00.

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.

Brescon Corp. (Daily)

Last Close -- 113.25; Support -- 105, 093; Resistance -- 128, 160

Trading Range: The scrip opened at 113.90, moved up to an intra-day high of 116.95, declined to an intra-day low of 112.00 and closed at 113.25.

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

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.