Stock picks of the day

The market has remained in a weak state of mind, has come off its intra-day high and has finally ended the day in negative territory. Banks, Auto, FMCG, Capital Goods, Realty, Consumer Durables, Healthcare, Metal, PSU & Oil have ended negative in varying degrees while IT has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed panicky.

Sensex (Daily)                                                                     

Last Close - 16630.91 | Support - 16416, 16308 | Resistance - 16681, 16964

Trading Range - The Sensex opened at 17247.34, moved up to an intra-day high of 17427.34, declined to an intra-day low of 16457.74 and closed at 16630.91. 

Review/Outlook - The Sensex has had a weak trading session, has had a negative opening, has moved just one way, has received selling pressure even at lower levels, has come off from its intra - day low and has finally ended in negative territory on higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 16652 level while significant resistance at higher levels (16800) - would limit the upside. The outlook has turned negative again while resistance comes in at the 18800+ level and support comes in at the 16200 level.  

Era Infra. (Daily)                                                         

Last Close - 671.25 | Support - 646, 573 | Resistance - 697, 810

Trading Range - The scrip opened at 660.00, moved up to an intra-day high of 690.00, declined to an intra-day low of 646.05 and closed at 671.25.

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.   

Icsa. (Daily)                                                    

Last Close - 503.40 | Support - 491, 451 | Resistance - 522, 597

Trading Range - The scrip opened at 500.00, moved up to an intra-day high of 518.00, declined to an intra-day low of 491.30 and closed at 503.40.

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.   

Vakrangee Ltd. (Daily)                                       

Last Close -193.30 | Support -184, 163 | Resistance - 204, 239

Trading Range - The scrip opened at 186.90, moved up to an intra-day high of 195.85, declined to an intra-day low of 184.00 and closed at 193.30.

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.       

Bilcare Ltd. (Daily)                                                  

Last Close - 894.65 | Support - 780, 743 | Resistance - 899, 991

Trading Range - The scrip opened at 875.00, moved up to an intra-day high of 910.00, declined to an intra-day low of 780.10 and closed at 894.65.

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.