The market has received support at lower levels, has come off its intra-day low and has finally ended the day in positive territory. Consumer Durables, Auto, Metals, Capital Goods, Oil & PSU's have ended negative in varying degrees while FMCG, Healthcare, Banks & IT have ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed cautious.
Sensex (Daily)
Last Close - 13696.31 | Support - 13652, 13576 | Resistance - 13723, 13790
Trading Range - The Sensex opened at 13630.90, moved up to an intra-day high of 13745.16, declined to an intra-day low of 13630.58 and closed at 13696.31.
Review/Outlook - The Sensex has reflected surprising resilience to open with an upward gap, staged an intra-day upmove virtually from open to close and has finally ended in positive territory on distinctly higher volume. A range bound movement seems to be on the cards while an intra-day upside cannot be ruled out but only above the 13745 level while intra-day support comes in at the 13651 level indicating a limited downside.
Indian Hume Pipes. (Daily)
Last Close - 383.00 | Support - 380, 321 | Resistance - 426, 450
Trading Range - The scrip opened at 383.00, moved up to an intra-day high of 383.00, declined to an intra-day low of 375.00 and closed at 383.00.
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.
Flex Engg. (Daily)
Last Close - 039.75 | Support - 036, 027 | Resistance - 042, 053
Trading Range - The scrip opened at 037.80, moved up to an intra-day high of 040.10, declined to an intra-day low of 037.00 and closed at 039.75.
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.
Eimco Elec. (Daily)
Last Close - 351.55 | Support - 332, 274 | Resistance - 380, 444
Trading Range - The scrip opened at 346.00, moved up to an intra-day high of 354.00, declined to an intra-day low of 330.00 and closed at 351.55.
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.
Sagar Cement. (Daily)
Last Close - 120.25 | Support - 116, 091 | Resistance - 126, 151
Trading Range - The scrip opened at 118.00, moved up to an intra-day high of 120.25, declined to an intra-day low of 112.10 and closed at 120.25.
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.
Daily Stock Track
|
Scrip |
Support |
Last Close |
Resistance |
Trend |
|
ACC |
1110, 1061 |
1132.65 |
1150, 1200 |
Up |
|
DR. REDDY |
733, 700 |
750.80 |
757, 795 |
Sd |
|
HLL |
224, 216 |
235.85 |
240, 255 |
Sd |
|
INFOSYS |
2100, 2000 |
2180.45 |
2200, 2300 |
Sd |
|
ITC |
180, 168 |
184.60 |
190, 210 |
Sd |
|
RIL |
1241, 1195 |
1245.00 |
1300, 1350 |
Sd |
|
SATYAM |
443, 430 |
459.25 |
475, 500 |
Tu |
|
SBI |
1300, 1250 |
1314.00 |
1350, 1400 |
Up |
|
T MOTORS |
771, 749 |
809.40 |
811, 849 |
Sd |
|
TISCO |
466, 452 |
467.95 |
480, 500 |
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.
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