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. Capital Goods, Healthcare, Metal, Realty, Oil, Fmcg, Banks, Healthcare, Consumer Durables, Psu, IT & Auto have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed mixed.

Sensex (Daily)                                                                     

Last Close - 14296.79 | Support - 14046, 13872 | Resistance - 14431, 14732

Trading Range - The Sensex opened at 14563.10, moved up to an intra-day high of 14563.10, declined to an intra-day low of 14261.69 and closed at 14296.79. 

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 14291 level while significant support at lower levels (14070) - would limit the downside. The outlook has turned negative again while resistance comes in at the 15500+ level and support comes in at the 12780 level.  

Ranklin Sol. (Daily)                                                      

Last Close - 213.90 | Support - 199, 172 | Resistance - 221, 256

Trading Range - The scrip opened at 216.00, moved up to an intra-day high of 224.80, declined to an intra-day low of 212.10 and closed at 213.90.

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.    

Jaypee Hotel. (Daily)                                                  

Last Close - 113.85 | Support - 099, 071 |  Resistance - 138, 163

Trading Range - The scrip opened at 104.00, moved up to an intra-day high of 113.85, declined to an intra-day low of 100.00 and closed at 113.85.

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.         

Hinduja Foun. (Daily)                                         

Last Close - 178.50 | Support - 171, 145 | Resistance - 184, 220

Trading Range - The scrip opened at 174.70, moved up to an intra-day high of 178.50, declined to an intra-day low of 174.70 and closed at 178.50.

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.              

Bajaj Auto. (Daily)                                                  

Last Close - 579.55 | Support - 554, 476 | Resistance - 613, 652

Trading Range - The scrip opened at 553.80, moved up to an intra-day high of 584.00, declined to an intra-day low of 553.80 and closed at 579.55.

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

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.