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

Sensex

Last Close - 17287.31 | Support - 16964, 16681 | Resistance - 17292, 17494

Trading Range - The Sensex opened at 17479.01, moved up to an intra-day high of 17480.74, declined to an intra-day low of 17241.88 and closed at 17287.31.

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 formality) could come in above the 17301 level while significant resistance at higher levels (17620) - would limit the upside. The outlook has turned positive again while resistance comes in at the 18300+ level and support comes in at the 16600 level.

Jindal Poly

Last Close - 233.00 | Support - 223, 195 | Resistance - 244, 290

Trading Range - The scrip opened at 243.00, moved up to an intra-day high of 243.45, declined to an intra-day low of 230.00 and closed at 233.00.

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.

Genus Power

Last Close - 557.45 | Support - 539, 505 | Resistance - 579, 639

Trading Range - The scrip opened at 525.00, moved up to an intra-day high of 574.95, declined to an intra-day low of 428.70 and closed at 557.45.

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.

Helios & Matheson

Last Close - 077.90 | Support - 073, 055 | Resistance - 093, 114

Trading Range - The scrip opened at 074.60, moved up to an intra-day high of 083.00, declined to an intra-day low of 073.20 and closed at 077.90.

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.

Micro Tech

Last Close - 326.70 | Support - 314, 273 | Resistance - 343, 385

Trading Range - The scrip opened at 313.00, moved up to an intra-day high of 325.00, declined to an intra-day low of 311.00 and closed at 326.70.

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.

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.