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

Sensex

Last Close - 15626.62 | Support - 15330, 15037 | Resistance - 15734, 15956

Trading Range - The Sensex opened at 15771.72, moved up to an intra-day high of 15834.05, declined to an intra-day low of 15297.96 and closed at 15626.62.

Review/Outlook - The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has faced 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 upside (seems like a distinct possibility) could come in above the 15639 level while significant resistance at higher levels (16400) - would limit the upside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 14700 level.

Technocraft

Last Close - 062.40 | Support - 053, 037 | Resistance - 071, 105

Trading Range - The scrip opened at 052.50, moved up to an intra-day high of 062.50, declined to an intra-day low of 051.10 and closed at 062.40.

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.

Gulshan Poly

Last Close - 239.40 | Support - 216, 181 | Resistance - 279, 359

Trading Range - The scrip opened at 217.05, moved up to an intra-day high of 239.40, declined to an intra-day low of 217.05 and closed at 239.40.

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.

Til Ltd

Last Close - 395.85 | Support - 355, 311 | Resistance - 424, 515

Trading Range - The scrip opened at 379.00, moved up to an intra-day high of 395.85, declined to an intra-day low of 370.00 and closed at 395.85.

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.

Sh. Precoated

Last Close - 189.00 | Support - 186, 163 | Resistance - 240, 277

Trading Range - The scrip opened at 185.00, moved up to an intra-day high of 189.00, declined to an intra-day low of 183.00 and closed at 189.00.

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.