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

Sensex

Last Close - 17490.90 | Support - 17292, 16964 | Resistance - 17494, 17711

Trading Range - The Sensex opened at 17687.00, moved up to an intra-day high of 17735.70, declined to an intra-day low of 17457.27 and closed at 17490.90.

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 downside (seems like a possibility) could come in below the 17479 level while significant support at lower levels (17301) - would limit the downside. 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 - 233.85 | Support - 223, 195 | Resistance - 244, 290

Trading Range - The scrip opened at 235.00, moved up to an intra-day high of 238.00, declined to an intra-day low of 231.25 and closed at 233.85.

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.

Genus Power

Last Close - 565.20 | Support - 539, 505 | Resistance - 579, 639

Trading Range - The scrip opened at 568.00, moved up to an intra-day high of 574.95, declined to an intra-day low of 551.00 and closed at 565.20.

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.

XL Tele

Last Close - 282.95 | Support - 260, 227 | Resistance - 334, 378

Trading Range - The scrip opened at 289.30, moved up to an intra-day high of 294.00, declined to an intra-day low of 281.00 and closed at 282.95.

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.

Gandhi Special

Last Close - 108.10 | Support - 092, 072 | Resistance - 117, 133

Trading Range - The scrip opened at 109.90, moved up to an intra-day high of 111.00, declined to an intra-day low of 106.00 and closed at 108.10.

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.

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.