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

Sensex (Daily)                                                                    

Last Close - 20030.83 | Support - 19984, 19621 | Resistance - 20035, 20238

Trading Range - The Sensex opened at 20108.09, moved up to an intra-day high of 20171.57, declined to an intra-day low of 19936.49 and closed at 20030.83. 

Review/Outlook - The Sensex has had a mixed trading session, has had a neutral 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; an intra-day downside (seems like a possibility) could come in below the 20015 level while support at lower levels (19025) – would limit the downside. The outlook has turned positive again while resistance comes in at the 21200+ level and support comes in at the 18833 level.  

Supra. Engg. (Daily)                                                 

Last Close - 148.90 | Support - 147, 122 | Resistance - 182, 220

Trading Range - The scrip opened at 154.80, moved up to an intra-day high of 157.10, declined to an intra-day low of 147.00 and closed at 148.10.

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.   

Alphageo Ind. (Daily)                                                

Last Close - 832.40 | Support - 802, 732 | Resistance - 838, 900

Trading Range - The scrip opened at 849.00, moved up to an intra-day high of 858.55, declined to an intra-day low of 814.00 and closed at 832.40.

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.   

Jaibala Ind. (Daily)                                           

Last Close - 434.25 | Support - 425, 375 | Resistance - 475, 525

Trading Range - The scrip opened at 429.90, moved up to an intra-day high of 434.25, declined to an intra-day low of 429.50 and closed at 434.25.

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.        

Vbc Ferro. (Daily)                                                  

Last Close - 406.90 | Support - 372, 325 | Resistance - 409, 483

Trading Range - The scrip opened at 403.00, moved up to an intra-day high of 406.90, declined to an intra-day low of 395.00 and closed at 406.90.

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.