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, FMCG, Metals, Banks, Healthcare, Oil, Psu, Realty, Consumer Durables, IT & Auto have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed shaky.

Sensex (Daily)                                                                     

Last Close - 20251.09 | Support - 20238, 20035  Resistance - 20498, 20700

Trading Range - The Sensex opened at 20836.47, moved up to an intra-day high of 20872.93, declined to an intra-day low of 20203.63 and closed at 20251.09. 

Review/Outlook - The Sensex has had a mixed trading session, has had a positive 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 higher volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 20240 level while strong support at lower levels (20035) - would limit the downside and result in a recovery. The outlook has turned positive again while resistance comes in at the 21200+ level and support comes in at the 18833 level.  

Gati Ltd. (Daily)                                                          

Last Close - 177.40 | Support - 162, 131 | Resistance - 184, 215

Trading Range - The scrip opened at 169.00, moved up to an intra-day high of 178.50, declined to an intra-day low of 168.00 and closed at 177.40.

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.   

Tulsyan Nect. (Daily)                                                  

Last Close - 114.80 | Support - 103, 087 | Resistance - 125, 143

Trading Range - The scrip opened at 114.80, moved up to an intra-day high of 114.80, declined to an intra-day low of 105.00 and closed at 114.80.

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.   

Jaypee Hotel. (Daily)                                          

Last Close - 211.50 | Support - 190, 153 | Resistance - 237, 301

Trading Range - The scrip opened at 199.00, moved up to an intra-day high of 211.50, declined to an intra-day low of 192.60 and closed at 211.50.

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.       

Jaihind Proj. (Daily)                                                 

Last Close - 204.35 | Support - 194, 165 | Resistance - 209, 243

Trading Range - The scrip opened at 204.35, moved up to an intra-day high of 204.35, declined to an intra-day low of 200.00 and closed at 204.35.

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.