Stock picks of the day

The market has had a volatile trading session to basically come off its intra-day high and has finally ended the day in positive territory. FMCG, capital goods, IT, auto, oil and pharma have ended positive in varying degrees while Banks, Metals, PSU's & Consumer Durables has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed mixed.

Sensex (Daily) 

Last Close - 11477.48, Support - 11453, 11356, Resistance - 11536, 11618

Trading Range: The Sensex opened at 11498.47, moved up to an intra-day high of 11551.59, declined to an intra-day low of 11379.44 and closed at 11477.48.

Review/Outlook: The Sensex has faced alternate bouts of both, buying & selling and has come off its intra-day high to just about end in positive territory on noticeably higher volume and has managed to close above the 11000 level for the seventh trading session in a row. The outlook seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts seem rather hazy and an upside could come in only above the 11552 level - the sanctity of the 11330 level needs to be maintained at all times.               

Amara Raja. (Daily)   

Last Close - 371.25, Support - 353, 310, Resistance - 400, 450

Trading Range: The scrip opened at 344.00, moved up to an intra-day high of 371.25, declined to an intra-day low of 330.15 and closed at 371.25.

Review/Outlook: The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards. 

Sandesh Ltd. (Daily)   

Last Close - 142.85, Support - 130, 110, Resistance - 147, 173

Trading Range: The scrip opened at 134.90, moved up to an intra-day high of 142.85, declined to an intra-day low of 121.00 and closed at 142.85.

Review/Outlook: The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.        

KLG Systel. (Daily)

Last Close - 169.75, Support - 150, 121, Resistance - 190, 253

Trading Range: The scrip opened at 157.00, moved up to an intra-day high of 169.75, declined to an intra-day low of 150.00 and closed at 169.75.

Review/Outlook: The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.       

Zenith Info. (Daily) 

Last Close - 263.65, Support – 238, 203, Resistance – 284, 340 

Trading Range: The scrip opened at 263.65, moved up to an intra-day high of 263.65, declined to an intra-day low of 255.50 and closed at 263.65.

Review/Outlook:  The scrip has reflected strength by recovering 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 even be having contrary positions in the stocks mentioned above.