Stock picks for today

The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day sharply in negative territory.

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

Sensex (Daily)

Last Close | 16086.83; Support | 15956, 15734; Resistance | 16308, 16416

Trading Range: The Sensex opened at 16270.12, moved up to an intra-day high of 16309.88, declined to an intra-day low of 16009.87 and closed at 16086.83.

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 lower volume. Volatility can be the order of the day; an intra-day downside (seems like a distinct possibility) could come in below the 16071 level while significant support at lower levels (15800) | would limit the downside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 14700 level.

VIP Industries (Daily)

Last Close | 091.10; Support | 083, 059 Resistance | 106, 132

Trading Range: The scrip opened at 087.00, moved up to an intra-day high of 092.45, declined to an intra-day low of 083.00 and closed at 091.10.

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.

Northgate Tech (Daily)

Last Close | 425.10; Support | 410, 371; Resistance | 484, 553

Trading Range: The scrip opened at 400.40, moved up to an intra-day high of 439.90, declined to an intra-day low of 399.00 and closed at 425.10.

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.

Sterling International (Daily)

Last Close | 195.70; Support | 187, 135 Resistance | 221, 253

Trading Range: The scrip opened at 187.00, moved up to an intra-day high of 198.00, declined to an intra-day low of 180.25 and closed at 195.70.

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.

ICSA Ltd (Daily)

Last Close | 400.95; Support | 363, 320 Resistance | 416, 474

Trading Range: The scrip opened at 349.00, moved up to an intra-day high of 407.40, declined to an intra-day low of 331.05 and closed at 400.95.

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.

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.