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

Sensex (Daily)                                                                     

Last Close - 14809.49 | Support - 14732, 14431 | Resistance - 15037, 15330

Trading Range - The Sensex opened at 15326.93, moved up to an intra-day high of 15326.93, declined to an intra-day low of 14738.27 and closed at 14809.49. 

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 sharply 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 14824 level while significant resistance at higher levels (15100) - would limit the upside. The outlook has turned negative again while resistance comes in at the 18800+ level and support comes in at the 14700 level.  

Era Infra Ltd. (Daily)                                                   

Last Close - 596.50 | Support - 582, 529 | Resistance - 627, 663

Trading Range - The scrip opened at 589.00, moved up to an intra-day high of 627.00, declined to an intra-day low of 520.00 and closed at 596.50.

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.   

Dcm Shriram. (Daily)                                                  

Last Close - 111.90 | Support - 110, 084 | Resistance - 129, 142

Trading Range - The scrip opened at 108.50, moved up to an intra-day high of 113.80, declined to an intra-day low of 108.50 and closed at 111.90.

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.   

Man Industries. (Daily)                                       

Last Close - 098.95 | Support - 090, 072 | Resistance - 119, 142

Trading Range - The scrip opened at 096.00, moved up to an intra-day high of 103.00, declined to an intra-day low of 093.50 and closed at 098.95.

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.       

Nitco Tiles. (Daily)                                                  

Last Close - 240.25 | Support - 235, 212 | Resistance - 253, 290

Trading Range - The scrip opened at 238.00, moved up to an intra-day high of 244.00, declined to an intra-day low of 235.05 and closed at 240.25.

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.     

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.