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

Sensex (Daily)                                                                               

Last Close - 16127.98 | Support - 15956, 15734  | Resistance - 16165, 16308

Trading Range - The Sensex opened at 16541.14, moved up to an intra-day high of 16683.37, declined to an intra-day low of 16064.09 and closed at 16127.98. 

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 positive territory on lower volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 16119 level while significant support at lower levels (15809) – would limit the downside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 16200 level.  

Radha Madhav. (Daily)  

Last Close - 076.65 | Support - 060, 047 | Resistance - 079, 093

Trading Range - The scrip opened at 074.95, moved up to an intra-day high of 076.65, declined to an intra-day low of 074.95 and closed at 076.65.

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.   

Modern India. (Daily)                                               

Last Close - 205.05 | Support - 185, 151 |   Resistance - 216, 274

Trading Range - The scrip opened at 180.00, moved up to an intra-day high of 205.05, declined to an intra-day low of 178.40 and closed at 205.05.

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.   

Shiv Vani Oil. (Daily)                                       

Last Close - 568.65 | Support - 543, 510 | Resistance - 597, 649

Trading Range - The scrip opened at 559.70, moved up to an intra-day high of 580.00, declined to an intra-day low of 542.00 and closed at 568.65.

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.        

Spanco Tele. (Daily)                                              

Last Close - 191.40 | Support - 185, 156 | Resistance - 201, 230

Trading Range - The scrip opened at 186.00, moved up to an intra-day high of 191.40, declined to an intra-day low of 176.35 and closed at 191.40.

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.     

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.