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, Capital Goods, Healthcare, Consumer Durables, IT & Oil have ended positive in varying degrees while the Auto, Metal & PSU's have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed bullish.
Sensex
Last Close - 14303.41 | Support - 14243, 14171 | Resistance - 14325, 14454
Trading Range - The Sensex opened at 14261.47, moved up to an intra-day high of 14337.06, declined to an intra-day low of 14201.01 and closed at 14303.41.
Review/Outlook - The Sensex has reflected significant amount of resilience and despite an intra-day decline, 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 lower volume. Volatility can be the order of the day; an intra-day upside (cannot be ruled out) could come in above the 14337 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.
GTC Ind
Last Close - 182.30 | Support - 174, 145 | Resistance - 188, 207
Trading Range - The scrip opened at 175.00, moved up to an intra-day high of 182.30, declined to an intra-day low of 175.00 and closed at 182.30.
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
Last Close - 546.95 | Support - 499, 430 | Resistance - 568, 657
Trading Range - The scrip opened at 553.80, moved up to an intra-day high of 554.75, declined to an intra-day low of 535.00 and closed at 546.95.
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
Last Close - 253.20 | Support - 235, 215 | Resistance - 258, 299
Trading Range - The scrip opened at 248.95, moved up to an intra-day high of 253.20, declined to an intra-day low of 238.00 and closed at 253.20.
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
Last Close - 302.45 | Support - 274, 223 | Resistance - 319, 359
Trading Range - The scrip opened at 299.00, moved up to an intra-day high of 302.45, declined to an intra-day low of 299.00 and closed at 302.45.
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.
Daily Stock Track
|
Scrip |
Support |
Last Close |
Resistance |
Trend |
|
ACC |
856, 829 |
875.15 |
892, 924 |
Up |
|
DR. REDDY |
645, 610 |
665.75 |
669, 689 |
Sd |
|
HLL |
192, 183 |
193.50 |
203, 216 |
Td |
|
INFOSYS |
1962, 1883 |
1982.20 |
2061, 2133 |
Sd |
|
ITC |
155, 144 |
167.00 |
168, 180 |
Tu |
|
RIL |
1645, 1625 |
1699.40 |
1700, 1750 |
Up |
|
SATYAM |
443, 425 |
455.30 |
475, 500 |
Sd |
|
SBI |
1304, 1281 |
1325.75 |
1332, 1375 |
Up |
|
T MOTORS |
722, 698 |
742.75 |
749, 771 |
Tu |
|
TISCO |
570, 543 |
591.05 |
593, 617 |
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.