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

Sensex (Daily)   

Last Close – 12575.80 | Support – 12425, 12042 | Resistance – 12899, 13146

Trading Range - The Sensex opened at 12740.78, moved up to an intra-day high of 12935.25, declined to an intra-day low of 12514.02 and closed at 12575.80. 

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 higher volume. Volatility can be the order of the day; an intra-day upside (seems like a formality) could come in above the 12576 level while significant resistance at higher levels (12816) – would limit the upside. The outlook has turned negative again while resistance comes in at the 14700+ level and support comes in at the 12316 level.  

Financial Eye. (Daily)   

Last Close - 062.75 | Support - 057, 040 | Resistance - 073, 092

Trading Range - The scrip opened at 056.85, moved up to an intra-day high of 062.75, declined to an intra-day low of 056.85 and closed at 062.75.

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.    

Advanced Micro. (Daily) 

Last Close - 057.35 | Support - 052, 038 | Resistance - 061, 083

Trading Range - The scrip opened at 053.00, moved up to an intra-day high of 057.35, declined to an intra-day low of 050.00 and closed at 057.35.

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.         

Usher Agro. (Daily)                                          

Last Close - 124.00 | Support - 110, 087 | Resistance - 131, 158

Trading Range - The scrip opened at 108.80, moved up to an intra-day high of 126.25, declined to an intra-day low of 088.20 and closed at 124.00.

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.              

Tulip IT. (Daily) 

Last Close - 899.55 | Support - 880, 841 | Resistance - 918, 957

Trading Range - The scrip opened at 884.05, moved up to an intra-day high of 922.90, declined to an intra-day low of 882.50 and closed at 899.55.

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.            

Daily Stock Track           

Scrip	Support	Last Close	Resistance	Trend
ACC	484, 460	514.40	520, 573	Td
DR. REDDY	610, 579	630.10	645, 689	Td
HUL	203, 192	215.40	216, 224	Sd
INFOSYS	1510, 1457	1547.65	1667, 1723	Td
ITC	155, 140	162.30	169, 180	Dt
RIL	1915, 1842	1945.35	1999, 2079	Dt
SATYAM	385, 366	394.50	406, 425	Dt
SBI	1101, 1044	1138.75	1146, 1202	Td
T MOTORS	390, 367	395.40	422, 448	Sd
T STEEL	614, 586	625.70	642, 670	Sd

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.