The market has run into selling pressure to basically come off its intra-day high and has finally ended the day in negative territory. Banks, IT, FMCG, Pharma, Oil, Capital Goods & PSU's have ended negative in varying degrees while Metals, Consumer Durables & Auto have ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed subdued.
Sensex (Daily)
Last Close - 11853.85 | Support - 11826, 11707 | Resistance - 11931, 12054
Trading Range - The Sensex opened at 11893.33, moved up to an intra-day high of 11921.30, declined to an intra-day low of 11815.43 and closed at 11853.85.
Review/Outlook - The Sensex has faced alternate bouts of both, buying and selling, has come off its intra-day low to end in negative territory on clearly higher volume and has managed to close above the 11000 level for the twenty second trading session in a row. The outlook seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts seem to be pointing towards a limited downward bias but only below the 11815 level today - the sanctity of the 11620 level needs to be maintained at all times.
Natco Pharma. (Daily)
Last Close - 118.10 | Support - 113, 099 | Resistance - 121, 146
Trading Range - The scrip opened at 114.40, moved up to an intra-day high of 118.10, declined to an intra-day low of 114.40 and closed at 118.10.
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.
Gitanjali Gems. (Daily)
Last Close - 206.10 | Support - 200, 169 | Resistance - 211, 268
Trading Range - The scrip opened at 200.00, moved up to an intra-day high of 206.10, declined to an intra-day low of 197.20 and closed at 206.10.
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.
Mather Platt. (Daily)
Last Close - 139.60 | Support - 125, 087 | Resistance - 160, 183
Trading Range - The scrip opened at 135.10, moved up to an intra-day high of 139.95, declined to an intra-day low of 135.10 and closed at 139.60.
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.
Elnet Tech. (Daily)
Last Close - 084.15 | Support - 080, 056 | Resistance - 104, 129
Trading Range - The scrip opened at 079.80, moved up to an intra-day high of 084.45, declined to an intra-day low of 078.00 and closed at 084.15.
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 |
947.15 |
979, 1022 |
Tu |
|
DR. REDDY |
700, 671 |
727.50 |
733, 757 |
Tu |
|
HLL |
224, 216 |
238.15 |
240, 252 |
Tu |
|
INFOSYS |
1800, 1721 |
1804.20 |
1900, 2000 |
Up |
|
ITC |
180, 168 |
186.00 |
190, 210 |
Up |
|
RIL |
1109, 1083 |
1125.55 |
1136, 1171 |
Tu |
|
SATYAM |
770, 752 |
796.90 |
810, 830 |
Tu |
|
SBI |
926, 900 |
938.70 |
950, 1000 |
Up |
|
T MOTORS |
888, 849 |
897.35 |
944, 900 |
Up |
|
TISCO |
500, 480 |
521.90 |
530, 550 |
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.
DISCLAIMER : While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.
Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.