The market has remained in a negative frame of mind, has come off its intra-day high and has finally ended the day in negative territory. Banks, Capital Goods, Oil, PSU, FMCG, Consumer Durables, Metals, Auto, IT & Healthcare 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 shaky.
Sensex
Last Close - 14190.70 | Support - 14171, 14035 | Resistance - 14243, 14325
Trading Range - The Sensex opened at 14529.28, moved up to an intra-day high of 14529.28, declined to an intra-day low of 14146.22, and closed at 14190.70.
Review/Outlook - The Sensex has reflected significant amount of weakness, has declined from open to close, has remained negative to come off from its intra-day high and has finally ended deep in negative territory on marginally lower volume. Volatility can be the order of the day, the negatives of the last trading session are expected to spill over to today's trading session indicating the possibility of an intra-day downside especially below the 14146 level while strong support at lower levels (14010 - 14040) could lead to some stability at lower levels.
Metal Coat
Last Close - 022.20 | Support - 021, 012 | Resistance - 025, 033
Trading Range - The scrip opened at 018.65, moved up to an intra-day high of 022.60, declined to an intra-day low of 018.55 and closed at 022.20.
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.
Steel Strips
Last Close - 210.00 | Support - 195, 159 | Resistance - 225, 250
Trading Range - The scrip opened at 195.00, moved up to an intra-day high of 210.00, declined to an intra-day low of 195.00 and closed at 210.00.
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.
Flat Products
Last Close - 183.00 | Support - 164, 145 | Resistance - 192, 236
Trading Range - The scrip opened at 163.05, moved up to an intra-day high of 187.60, declined to an intra-day low of 156.00 and closed at 183.00.
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.
Suraj Stainless
Last Close - 145.30 | Support - 130, 105 | Resistance - 150, 175
Trading Range - The scrip opened at 130.00, moved up to an intra-day high of 146.95, declined to an intra-day low of 130.00 and closed at 145.30.
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.
|
Scrip |
Support |
Last Close |
Resistance |
Trend |
|
ACC |
1022, 979 |
1023.95 |
1061, 1110 |
Sd |
|
DR. REDDY |
712, 689 |
725.05 |
733, 757 |
Dt |
|
HLL |
203, 192 |
203.30 |
216, 224 |
Dt |
|
INFOSYS |
2325, 2270 |
2350.40 |
2400, 2500 |
Up |
|
ITC |
168, 155 |
175.05 |
180, 190 |
Up |
|
RIL |
1342, 1316 |
1355.90 |
1373, 1409 |
Up |
|
SATYAM |
443, 425 |
463.55 |
475, 500 |
Td |
|
SBI |
1166, 1135 |
1181.85 |
1190, 1225 |
Up |
|
T MOTORS |
849, 811 |
874.25 |
888, 920 |
Td |
|
TISCO |
437, 425 |
443.75 |
452, 466 |
Sd |
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.