The market has just about improved while the previously mentioned divergence very much apparent. Mid-cap stocks shot through the roof while mainline stocks continued to falter. The star of the day (besides the Capital Goods, FMCG, PSU's) was undoubtedly the textile sector, volume was better while the undertone was hopeful.
Sensex -- Last Close: 2960.62 | Support: 2922, 2826 | Resistance: 3007, 3110
Trading Range -- The Sensex opened at 2947.03, moved up to an intra-day high of 2964.96, declined to an intra-day low of 2947.03 and closed at 2960.62.
Review/Outlook -- The Sensex has reflected indecision by staying within the previous day's trading range while a positive closing and the intra-day charts would seem to suggest a further upside today.
ABB -- Last Close: 319.65 | Support: 318, 306 | Resistance: 330, 350
Trading Range -- The scrip opened at 310.00, moved up to an intra-day high of 324.45, declined to an intra-day low of 310.00 and closed at 319.65.
Review/Outlook -- The scrip has given an upward 'key' reversal (bullish intra-day pattern) and has also sustained above the 10 and 55 day averages while a further upside seems possible.
HLL -- Last Close: 140.50 | Support: 127, 111 | Resistance: 141, 155
Trading Range -- The scrip opened at 138.40, moved up to an intra-day high of 140.95, declined to an intra-day low of 138.00 and closed at 140.50.
Review/Outlook -- The scrip has closed above a supply line and with the mechanical indicators supporting the move, a further upside cannot be ruled out.
NIIT -- Last Close: 130.25 | Support: 126, 113 | Resistance: 139, 161
Trading Range -- The scrip opened at 126.75, moved up to an intra-day high of 131.50, declined to an intra-day low of 125.50 and closed at 130.25.
Review/Outlook -- The scrip has bounced back after taking support on the 126 level and with the oscillators in a positive frame of mind, further appreciation seems to be on the cards.
Pfizer -- Last Close: 343.60 | Support: 340, 327 | Resistance: 355, 378
Trading Range -- The scrip opened at 338.00, moved up to an intra-day high of 345.00, declined to an intra-day low of 336.55 and closed at 343.60.
Review/Outlook -- The scrip has closed above the 340 level after some amount of 'working' (which includes taking support on the 55 day average) and with the oscillators supporting the move, a further upside cannot be ruled out.
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