The market has remained a bit volatile, has moved one way and has finally ended the day in positive territory. Banks, Capital Goods, FMCG, Pharma, IT, Oil, Consumer Durables, Auto, Metals and PSU's have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed better.
Sensex (Daily)
Last Close - 12204.01 | Support - 12104, 12054 | Resistance - 12231, 12308
Trading Range - The Sensex opened at 12401.09, moved up to an intra-day high of 12419.65, declined to an intra-day low of 12178.83 and closed at 12204.01.
Review/Outlook - The Sensex has extended its near term weakness (has almost closed below the 12200 level) to not only end sharply in negative territory on distinctly higher volume but has also posted a 5 trading session low. The outlook has turned a bit hazy indicating the possibility of an intra-day downside but only below the 12178 level while strong support at the 12146 level would seem to suggest a late recovery.
Gtc Ind. (Daily)
Last Close - 158.90 | Support - 150, 129 | Resistance - 164, 195
Trading Range - The scrip opened at 153.95, moved up to an intra-day high of 158.90, declined to an intra-day low of 153.90 and closed at 158.90.
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.
Orient Paper. (Daily)
Last Close - 612.50 | Support - 583, 488 | Resistance - 667, 760
Trading Range - The scrip opened at 590.00, moved up to an intra-day high of 612.50, declined to an intra-day low of 588.00 and closed at 612.50.
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.
IL&FS. (Daily)
Last Close - 160.55 | Support - 155, 140 | Resistance - 200, 250
Trading Range - The scrip opened at 154.90, moved up to an intra-day high of 160.75, declined to an intra-day low of 152.00 and closed at 160.55.
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.
Sub. Proj. (Daily)
Last Close - 171.55 | Support - 156, 129 | Resistance - 200, 250
Trading Range - The scrip opened at 165.00, moved up to an intra-day high of 171.55, declined to an intra-day low of 165.00 and closed at 171.55.
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 |
979, 924 |
982.75 |
1022, 1061 |
Up |
|
DR. REDDY |
700, 671 |
711.80 |
733, 757 |
Td |
|
HLL |
240, 224 |
249.95 |
252, 266 |
Sd |
|
INFOSYS |
1800, 1721 |
1865.75 |
1900, 2000 |
Sd |
|
ITC |
180, 168 |
187.40 |
190, 210 |
Tu |
|
RIL |
1139, 1109 |
1155.05 |
1171, 1195 |
Up |
|
SATYAM |
810, 770 |
817.90 |
830, 860 |
Td |
|
SBI |
1000, 950 |
1039.10 |
1050, 1100 |
Up |
|
T MOTORS |
888, 849 |
894.75 |
944, 990 |
Sd |
|
TISCO |
530, 500 |
537.35 |
550, 570 |
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.
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