The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day in negative territory. Capital Goods, Healthcare & Metal have ended positive in varying degrees while Banks, Consumer Durables, FMCG, IT, PSU, Auto & Oil have ended in negative territory.
Volume registered a distinct increase (read as turnover) while the undertone seemed upbeat.
Sensex (Daily)
Last Close 13285.93; Support 13135, 13030; Resistance 13296, 13390
Trading Range: The Sensex opened at 13343.57, moved up to an intra-day high of 13386.95, declined to an intra-day low of 13196.90, and closed at 13285.93.
Review/Outlook: The Sensex has reflected a significant amount of strength by appreciating with a rather strong opening but has run into stiff resistance at higher levels from an earlier bearish gap, has come off from its intra-day high and has finally ended the day in negative territory on clearly higher volume. Volatility can be the order of the day; intra-day upside could come in only above 13351 level but sustainability above the 13390 level seems like a debatable issue indicating the possibility of some pressure, which could get accentuated below the 13259 level.
Wartsila Ind. (Daily)
Last Close 577.05; Support 575, 511; Resistance 600, 650
Trading Range: The scrip opened at 541.00, moved up to an intra-day high of 577.05, declined to an intra-day low of 540.00 and closed at 577.05.
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.
Muller & Phipps. (Daily)
Last Close 197.50; Support 183, 164; Resistance 198, 227
Trading Range: The scrip opened at 197.80, moved up to an intra-day high of 197.80, declined to an intra-day low of 180.25 and closed at 197.50.
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.
IST Limited. (Daily)
Last Close 282.70; Support 256, 209 Resistance 342, 407
Trading Range: The scrip opened at 282.70, moved up to an intra-day high of 282.70, declined to an intra-day low of 270.00 and closed at 282.70.
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.
Schrader Duncan. (Daily)
Last Close 165.00; Support 157, 133 Resistance 169, 202
Trading Range: The scrip opened at 163.95, moved up to an intra-day high of 165.00, declined to an intra-day low of 162.00 and closed at 165.00.
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.
Daily Stock Track
Scrip |
Support |
Last Close |
Resistance |
Trend |
ACC |
724, 697 |
745.65 |
750, 796 |
Tu |
DR. REDDY |
669, 645 |
686.65 |
689, 712 |
Sd |
HLL |
192, 183 |
198.35 |
203, 216 |
Tu |
INFOSYS |
2061, 1962 |
2096.70 |
2133, 2208 |
Sd |
ITC |
144, 136 |
144.20 |
155, 168 |
Sd |
RIL |
1373, 1342 |
1379.20 |
1409, 1450 |
Sd |
SATYAM |
443, 425 |
464.20 |
475, 500 |
Tu |
SBI |
1000, 973 |
1027.10 |
1050, 1100 |
Sd |
T MOTORS |
771, 749 |
789.45 |
811, 849 |
Sd |
TISCO |
437, 425 |
438.70 |
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.