The market has forged ahead with its scintillating recovery to end the week on a euphoric note. Banks, capital goods, consumer durables, FMCG, pharma, IT and PSUs were all gainers of the day.
Volume registered a decrease (read as turnover) while the undertone was bullish.
Sensex --Last Close: 3726.46 | Support: 3651, 3545 | Resistance: 3759, 3895
Trading Range -- The Sensex opened at 3685.31, moved up to an intra-day high of 3737.76, declined to an intra-day low of 3661.69 and closed at 3726.46.
Review/Outlook -- The Sensex has continued its positive momentum to end on an extremely strong footing despite the lower volume. The current move looks set to gain further ground barring resistance from the 3750 3760 levels.
Chennai Petroleum --Last Close: 57.00 | Support: 50, 39 | Resistance: 60, 80
Trading Range -- The scrip opened at 54.65, moved up to an intra-day high of 57.45, declined to an intra-day low of 54.60 and closed at 57.00.
Review/Outlook -- The scrip has reflected strength by giving closing above a supply line and with the oscillators looking better, further upside seems possible.
Hughes Software --Last Close: 297.10 | Support: 293, 266 | Resistance: 320, 367
Trading Range -- The scrip opened at 296.00, moved up to an intra-day high of 299.80, declined to an intra-day low of 288.00 and closed at 297.10.
Review/Outlook -- The scrip has reflected strength by sustaining its positive momentum and with the oscillators signalling a buy, a further upside cannot be ruled out.
Gujarat Ambuja --Last Close: 213.05 | Support: 206, 189 | Resistance: 223, 263
Trading Range -- The scrip opened at 203.00, moved up to an intra-day high of 214.90, declined to an intra-day low of 203.00 and closed at 213.05.
Review/Outlook -- The scrip has given an upward "bar" reversal (bullish intra-day pattern) and with the oscillators looking positive, further appreciation seems to be on the cards.
HDFC --Last Close: 419.30 | Support: 379, 345 | Resistance: 425, 500
Trading Range -- The scrip opened at 408.50, moved up to an intra-day high of 423.00, declined to an intra-day low of 405.05 and closed at 419.30.
Review/Outlook -- The scrip is on the verge of giving an upward breakout from a consolidation phase and with the indicators looking strong, a further upside seems to be on the cards.
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