The market has staged a good comeback from lower levels and has finally ended the day in positive territory. Metals, IT, Consumer Durables, Auto Banks, FMCG, Pharma, Oil & PSU's have ended positive in varying degrees while the Capital Goods sector has ended in negative territory. Volume registered a nominal increase (read as turnover) while the undertone seemed mixed.
Sensex (Daily)
Last Close - 11660.79 | Support - 11618, 11536 | Resistance - 11707, 11826
Trading Range - The Sensex opened at 11564.95, moved up to an intra-day high of 11671.80, declined to an intra-day low of 11444.18 and closed at 11660.79.
Review/Outlook - The Sensex has staged a smart recovery to basically come off its intra-day low (after a lot of volatile movements) to end sharply in positive territory by giving an upward key reversal on the daily chart on wafer-thin higher volume. An intra-day upside above the 11672 level cannot be ruled out while a virtual roadblock comes in at the 11756 level thereby putting a question mark on the sustainability of the move.
Shaw Wallace (Daily)
Last Close - 147.05 | Support - 140, 121 | Resistance - 173, 197
Trading Range - The scrip opened at 135.95, moved up to an intra-day high of 148.40, declined to an intra-day low of 132.50 and closed at 147.05.
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.
Sical Log. (Daily)
Last Close - 280.00 | Support - 264, 206 | Resistance - 301, 383
Trading Range - The scrip opened at 269.40, moved up to an intra-day high of 280.00, declined to an intra-day low of 263.50 and closed at 280.00.
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.
Eastern Silk (Daily)
Last Close - 218.45 | Support - 212, 180 | Resistance - 223, 256
Trading Range - The scrip opened at 206.50, moved up to an intra-day high of 218.45, declined to an intra-day low of 203.20 and closed at 218.45.
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.
Rpg Transm. (Daily)
Last Close - 147.65 | Support - 142, 108 | Resistance - 157, 183
Trading Range - The scrip opened at 142.50, moved up to an intra-day high of 147.65, declined to an intra-day low of 134.25 and closed at 147.65.
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.
Daily Stock Track
|
Scrip |
Support |
Last Close |
Resistance |
Trend |
|
ACC |
924, 892 |
928.80 |
979, 1022 |
Sd |
|
DR. REDDY |
700, 671 |
711.75 |
733, 757 |
Sd |
|
HLL |
224, 216 |
229.10 |
240, 252 |
Sd |
|
INFOSYS |
1721, 1661 |
1770.00 |
1800, 1900 |
Sd |
|
ITC |
180, 168 |
181.80 |
190, 210 |
Sd |
|
RIL |
1083, 1041 |
1106.75 |
1109, 1136 |
Sd |
|
SATYAM |
770, 752 |
783.80 |
810, 830 |
Sd |
|
SBI |
926, 900 |
932.00 |
950, 1000 |
Sd |
|
T MOTORS |
849, 811 |
853.80 |
888, 944 |
Sd |
|
TISCO |
500, 480 |
501.20 |
530, 550 |
Td |
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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