The market has remained in a weak state of mind, has come off its intra-day high and has finally ended the day in negative territory. Banks, Consumer Durables, FMCG, Healthcare, Auto, Metal, PSU, Oil, Capital Goods & Realty have ended negative in varying degrees while the IT sector has ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed hopeful.
Sensex (Daily)
Last Close - 16348.50 | Support - 16308, 15956 | Resistance - 16416, 16681
Trading Range - The Sensex opened at 16468.32, moved up to an intra-day high of 16498.24, declined to an intra-day low of 16300.88 and closed at 16348.50.
Review/Outlook - The Sensex has had a weak trading session, has had a negative opening, has moved just one way, has faced selling pressure even at lower levels, has come off from its intra - day high and has finally ended in negative territory on even lower volume.
Volatility can be the order of the day; an intra-day upside (seems like a distinct possibility) could come in above the 16359 level while significant resistance at higher levels (16609) - would limit the upside. The outlook is turning weak again while resistance comes in at the 17300+ level and support comes in at the 15300 level.
Sterling Int. (Daily)
Last Close - 245.65 | Support - 221, 187 | Resistance - 253, 280
Trading Range - The scrip opened at 236.00, moved up to an intra-day high of 245.70, declined to an intra-day low of 230.35 and closed at 245.65.
Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Era Infra. (Daily)
Last Close - 627.90 | Support - 627, 582 | Resistance - 663, 701
Trading Range - The scrip opened at 639.40, moved up to an intra-day high of 639.40, declined to an intra-day low of 612.00 and closed at 627.90.
Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Jaihind Proj. (Daily)
Last Close - 129.95 | Support - 113, 085 | Resistance - 152, 204
Trading Range - The scrip opened at 125.00, moved up to an intra-day high of 129.95, declined to an intra-day low of 120.50 and closed at 129.95.
Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Kiri Dyes. (Daily)
Last Close - 173.25 | Support - 159, 129 | Resistance - 181, 204
Trading Range - The scrip opened at 165.00, moved up to an intra-day high of 176.90, declined to an intra-day low of 165.00 and closed at 173.25.
Review/Outlook - The scrip has reflected strength by appreciating 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 |
615, 573 |
655.05 |
656, 697 |
Dt |
|
DR. REDDY |
689, 645 |
691.65 |
712, 733 |
Up |
|
HUL |
224, 216 |
231.25 |
240, 252 |
Dt |
|
INFOSYS |
1834, 1785 |
1886.40 |
1917, 1951 |
Up |
|
ITC |
193, 180 |
205.70 |
213, 227 |
Td |
|
RIL |
2426, 2309 |
2524.85 |
2539, 2615 |
Td |
|
SATYAM |
475, 443 |
483.10 |
493, 522 |
Up |
|
SBI |
1472, 1418 |
1537.70 |
1539, 1624 |
Dt |
|
T MOTORS |
600, 567 |
624.20 |
635, 670 |
Td |
|
T STEEL |
858, 820 |
874.95 |
890, 924 |
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 not only be having positions but could even be having contrary positions in the stocks mentioned above.