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 in negative territory.

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

Sensex (Daily)

Last Close | 15587.62; Support | 15330, 15037; Resistance | 15734, 15956

Trading Range: The Sensex opened at 15770.16, moved up to an intra-day high of 15770.40, declined to an intra-day low of 15479.42 and closed at 15587.62.

Review/Outlook: The Sensex has had a mixed trading session, has had a neutral opening, has moved just one way, has faced selling pressure at higher levels, has come off from its intra - day high and has finally ended in negative territory on higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 15599 level while significant resistance at higher levels (15656) | 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.

RDB Ind (Daily)

Last Close | 136.50; Support | 123, 096; Resistance | 152, 183

Trading Range: The scrip opened at 135.00, moved up to an intra-day high of 136.50, declined to an intra-day low of 131.60 and closed at 136.50.

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.

Shyam Tele (Daily)

Last Close | 084.55; Support | 074, 059; Resistance | 093, 118

Trading Range: The scrip opened at 082.95, moved up to an intra-day high of 086.50, declined to an intra-day low of 080.10 and closed at 084.55.

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 India (Daily)

Last Close | 373.50; Support | 363, 320; Resistance | 416, 474

Trading Range: The scrip opened at 340.05, moved up to an intra-day high of 374.35, declined to an intra-day low of 340.00 and closed at 373.50.

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.

Asian Oil (Daily)

Last Close | 184.65; Support | 148, 110; Resistance | 188, 254

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 173.95 and closed at 184.65.

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.

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.

DISCLAIMER : While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.

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.