The market has had a volatile trading session to basically come off its intra-day low and has finally ended the day in positive territory.
Auto, Capital Goods, IT, Metal, Oil, PSU Banks, Consumer Durables, FMCG & Pharma have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a much-needed increase (read as turnover) while the undertone seemed positive.
Sensex (Daily)
Last Close -- 11145.18; Support -- 11052, 10947; Resistance -- 11186, 11286
Trading Range: The Sensex opened at 10990.73, moved up to an intra-day high of 11187.65, declined to an intra-day low of 10939.21 and closed at 11145.18.
Review/Outlook: The Sensex has received significant support at lower levels and has recovered from its intra-day low to end smartly in positive territory on noticeably higher volume and has finally managed to close above the 11000 level for the second 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 would seem to suggest an upside above the 11187 level while the sanctity of the 11000 level needs to be maintained at all times.
Gujarat Fluoro (Daily)
Last Close -- 425.75; Support -- 412, 360; Resistance -- 464, 550
Trading Range: The scrip opened at 405.25, moved up to an intra-day high of 425.75, declined to an intra-day low of 400.00 and closed at 425.75.
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.
Marksans (Daily)
Last Close -- 118.75; Support -- 105, 087; Resistance -- 120, 047
Trading Range: The scrip opened at 118.75, moved up to an intra-day high of 118.75, declined to an intra-day low of 114.00 and closed at 118.75.
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.
Areva (Daily)
Last Close -- 693.15; Support -- 682, 554; Resistance -- 779, 886
Trading Range: The scrip opened at 660.95, moved up to an intra-day high of 693.15, declined to an intra-day low of 654.50 and closed at 693.15.
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.
KRBL (Daily)
Last Close -- 119.40; Support -- 114, 094; Resistance -- 128, 162
Trading Range: The scrip opened at 113.90, moved up to an intra-day high of 119.45, declined to an intra-day low of 113.90 and closed at 119.40.
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
|
Scrip |
Support |
Last Close |
Resistance |
Trend |
|
ACC |
856, 829 |
867.35 |
892, 924 |
Tu |
|
DR. REDDY |
1400, 1342 |
1445.25 |
1466, 1514 |
Tu |
|
HLL |
216, 203 |
224.00 |
224, 240 |
Sd |
|
INFOSYS |
1661, 1625 |
1701.05 |
1727, 1800 |
Tu |
|
ITC |
168, 155 |
178.75 |
180, 190 |
Up |
|
RIL |
977, 949 |
986.40 |
1001, 1041 |
Tu |
|
SATYAM |
752, 730 |
765.15 |
770, 810 |
Tu |
|
SBI |
850, 830 |
865.45 |
871, 900 |
Up |
|
T MOTORS |
771, 749 |
794.30 |
811, 849 |
Up |
|
TISCO |
500, 480 |
517.50 |
530, 550 |
Tu |
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.