Markets likely to remain volatile

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Last updated on: January 05, 2007 09:00 IST

The market has actually moved in just one direction, has come off its intra-day high and has finally ended the day in negative territory. Banks, FMCG, IT, PSU, Auto & Metals have ended negative in varying degrees while Capital Goods, Consumer Durables, Healthcare & Oil have ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed shaky.

Sensex

Last Close - 13871.71 | Support - 13857, 13790 | Resistance - 13931, 14035

Trading Range - The Sensex opened at 14029.04, moved up to an intra-day high of 14060.35, declined to an intra-day low of 13850.38 and closed at 13871.71.

Review/Outlook - The Sensex has reflected some amount of weakness by coming off sharply from its intra-day high by remaining under pressure for most part of the trading session to finally end clearly in negative territory on distinctly higher volume. Volatility can be the order of the day, the negatives of the last trading session are expected to spill over to today's trading session indicating the possibility of an intra-day downside (especially below the 13850 level) while support comes in at the 13770 level.                         

Flex Ind

Last Close - 159.05 | Support - 150, 120 | Resistance - 175, 200

Trading Range - The scrip opened at 154.00, moved up to an intra-day high of 159.05, declined to an intra-day low of 154.00 and closed at 159.05.

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. 

Simplex Real

Last Close - 230.40 | Support - 224, 193 | Resistance - 260, 305

Trading Range - The scrip opened at 231.25, moved up to an intra-day high of 231.25, declined to an intra-day low of 220.00 and closed at 230.40.

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.

Goodyear Ind

Last Close - 176.60 | Support - 168, 150 | Resistance - 182, 207

Trading Range - The scrip opened at 170.00, moved up to an intra-day high of 176.60, declined to an intra-day low of 166.55 and closed at 176.60.

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.

Sadbhav Engg

Last Close - 536.95 | Support - 516, 484 | Resistance - 545, 580

Trading Range - The scrip opened at 515.00, moved up to an intra-day high of 536.95, declined to an intra-day low of 513.00 and closed at 536.95.

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

1061, 1022

1071.05

1110, 1155

Tu

DR. REDDY

795, 757

826.30

840, 877

Tu

HLL

203, 192

210.35

216, 224

Td

INFOSYS

2270, 2133

2285.75

2400, 2500

Up

ITC

168, 155

168.90

180, 190

Td

RIL

1241, 1195

1280.35

1293, 1350

Tu

SATYAM

500, 475

501.95

538, 600

Up

SBI

1190, 1166

1243.75

1250, 1300

Tu

T MOTORS

944, 920

947.10

970, 990

Up

TISCO

452, 437

465.60

466, 480

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.

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