Stock picks of the day

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

Sensex

Last Close - 17349.07 | Support - 17292, 16964 | Resistance - 17494, 17711

Trading Range - The Sensex opened at 17515.62, moved up to an intra-day high of 17526.80, declined to an intra-day low of 17294.73 and closed at 17349.07.

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 high and has finally ended in negative territory on lower volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 17357 level while significant resistance at higher levels (17546) - would limit the upside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 16200 level.

Madhucon Proj

Last Close - 663.40 | Support - 646, 562 | Resistance - 714, 780

Trading Range - The scrip opened at 637.00, moved up to an intra-day high of 680.00, declined to an intra-day low of 637.00 and closed at 663.40.

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.

Himadri Chem

Last Close - 634.25 | Support - 580, 514 | Resistance - 683, 765

Trading Range - The scrip opened at 580.05, moved up to an intra-day high of 634.45, declined to an intra-day low of 580.05 and closed at 634.25.

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.

Apollo Sindhoori

Last Close - 364.95 | Support - 339, 294 | Resistance - 397, 439

Trading Range - The scrip opened at 348.75, moved up to an intra-day high of 364.95, declined to an intra-day low of 339.20 and closed at 364.95.

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.

Bank of Raj

Last Close - 172.70 | Support - 171, 139 | Resistance - 201, 242

Trading Range - The scrip opened at 175.00, moved up to an intra-day high of 195.40, declined to an intra-day low of 168.00 and closed at 172.70.

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.

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.

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.