The market has remained in a positive state of mind, has come off its intra-day low and has finally ended the day in positive territory. Banks, FMCG, Healthcare, PSU, Capital Goods, Healthcare, Consumer Durables, IT, Metals & Oil have ended positive in varying degrees while the Auto sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed bullish.
Sensex (Daily)
Last Close - 14299.71 | Support - 14243, 14171 | Resistance - 14325, 14454
Trading Range - The Sensex opened at 14217.36, moved up to an intra-day high of 14352.98, declined to an intra-day low of 14217.36 and closed at 14299.71.
Review/Outlook - The Sensex has reflected significant amount of strength and despite a positive opening, has received significant buying support to move up constructively to come off from its intra-day low and has finally ended in positive territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (cannot be ruled out) could come in above the 14353 level while some resistance comes in at higher levels (14380 - which could limit the upside) while a mixed bias cannot be ruled out. The outlook seems to have turned better again while resistance comes in at the 14400+ level and support comes in at the 13800 level.
Bombay Rayon. (Daily)
Last Close - 226.05 | Support - 205, 177 | Resistance - 236, 261
Trading Range - The scrip opened at 198.00, moved up to an intra-day high of 229.70, declined to an intra-day low of 196.50 and closed at 226.05.
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.
Ruby Mills. (Daily)
Last Close - 528.35 | Support - 499, 430 | Resistance - 568, 657
Trading Range - The scrip opened at 509.00, moved up to an intra-day high of 528.35, declined to an intra-day low of 509.00 and closed at 528.35.
Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Saregama Ind. (Daily)
Last Close - 241.15 | Support - 235, 215 | Resistance - 258, 299
Trading Range - The scrip opened at 228.00, moved up to an intra-day high of 241.15, declined to an intra-day low of 228.00 and closed at 241.15.
Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Shreeram. (Daily)
Last Close - 288.05 | Support - 274, 223 | Resistance - 319, 359
Trading Range - The scrip opened at 283.70, moved up to an intra-day high of 288.05, declined to an intra-day low of 280.00 and closed at 288.05.
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.
Daily Stock Track
|
Scrip |
Support |
Last Close |
Resistance |
Trend |
|
ACC |
856, 829 |
889.20 |
892, 924 |
Up |
|
DR. REDDY |
645, 610 |
677.85 |
669, 689 |
Sd |
|
HLL |
192, 183 |
195.05 |
203, 216 |
Td |
|
INFOSYS |
1962, 1883 |
1983.20 |
2061, 2133 |
Sd |
|
ITC |
155, 144 |
165.05 |
168, 180 |
Tu |
|
RIL |
1645, 1625 |
1684.85 |
1700, 1750 |
Up |
|
SATYAM |
443, 425 |
452.60 |
475, 500 |
Sd |
|
SBI |
1304, 1281 |
1328.10 |
1332, 1375 |
Up |
|
T MOTORS |
749, 722 |
750.75 |
771, 811 |
Tu |
|
TISCO |
593, 570 |
597.35 |
617, 646 |
Up |
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.