Markets likely to witness volatility

The market has actually moved both ways, has come off its intra-day low and has finally ended the day in positive territory. Banks, Capital Goods, IT, PSU, Auto, Consumer Durables, Healthcare, Metals & Oil have ended positive in varying degrees while FMCG sector has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)

Last Close - 13471.74 | Support - 13461, 13390 | Resistance - 13576, 13652

Trading Range - The Sensex opened at 13398.13, moved up to an intra-day high of 13493.88, declined to an intra-day low of 13362.11 and closed at 13471.74.

Review/Outlook - The Sensex has finally reflected some amount of resilience by coming off mildly from its intra-day low by moving in either direction to just about end in positive territory on lower volume. Volatility can be the order of the day, the positives of the last trading session are expected to spill over to today's trading session indicating the possibility of an intra-day upside (especially above the 13494 level) while the 13200 level is expected to be the trend decider for the time being.                  

Diamond Cable. (Daily)

Last Close - 121.90 | Support - 116, 096 | Resistance - 127, 150

Trading Range - The scrip opened at 118.65, moved up to an intra-day high of 121.90, declined to an intra-day low of 118.65 and closed at 121.90.

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. 

Donear Ind. (Daily)

Last Close - 219.65 | Support - 207, 182 | Resistance - 231, 275

Trading Range - The scrip opened at 209.80, moved up to an intra-day high of 219.65, declined to an intra-day low of 209.80 and closed at 219.65.

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.

Lakshmi Precis

Last Close - 122.80 | Support - 119, 090 | Resistance - 132, 160

Trading Range - The scrip opened at 120.00, moved up to an intra-day high of 122.85, declined to an intra-day low of 117.80 and closed at 122.80.

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.

Suashish Diamonds

Last Close - 149.90 | Support - 135, 115 | Resistance - 153, 166

Trading Range - The scrip opened at 138.00, moved up to an intra-day high of 149.90, declined to an intra-day low of 137.50 and closed at 149.90.

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.

Daily Stock Track               

Scrip	Support	Last Close	Resistance	Trend
ACC	1022, 979	1048.90	1061, 1110	Sd
DR. REDDY	795, 757	804.20	840, 877	Up
HLL	216, 203	219.10	224, 240	Td
INFOSYS	2100, 2000	2171.50	2200, 2300	Sd
ITC	168, 155	169.65	180, 190	Td
RIL	1241, 1195	1271.35	1293, 1350	Sd
SATYAM	443, 430	462.20	475, 500	Tu
SBI	1190, 1100	1214.05	1250, 1300	Td
T MOTORS	849, 811	859.25	888, 920	Sd
TISCO	466, 452	478.35	480, 500	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.

Chat with market expert Pranav Sanghavi every Tuesday