Electrosteel, Godrej hold promise

The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day in negative territory.

Banks, Consumer Durables, Capital Goods, IT, Realty Healthcare, Metals, Tech, FMCG, Oil & Psu's have ended negative in varying degrees while Auto has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed better.

Sensex (Daily)

Last Close -- 18938.87; Support -- 18833, 18327 Resistance -- 19276, 19621

Trading Range: The Sensex opened at 19316.76, moved up to an intra-day high of 19316.76, declined to an intra-day low of 18884.20 and closed at 18938.87.

Review/Outlook: The Sensex has had a mixed trading session, has had a strong opening, has moved both ways, has received selling pressure at higher levels, has come off from its intra - day high and has finally ended in negative territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (seems like a distinct possibility) could come in above the 18959 level while resistance at higher levels (19206) -- would limit the upside. The outlook has turned bullish again while resistance comes in at the 20200+ level and support comes in at the 18833 level.

Agro Tech Food (Daily)

Last Close -- 203.00; Support -- 179, 156; Resistance -- 225, 275

Trading Range: The scrip opened at 170.00, moved up to an intra-day high of 203.00, declined to an intra-day low of 167.15 and closed at 203.00.

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.

Electrosteel (Daily)

Last Close -- 080.50; Support -- 073, 056; Resistance -- 088, 120

Trading Range: The scrip opened at 074.90, moved up to an intra-day high of 080.50, declined to an intra-day low of 073.50 and closed at 080.50.

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.

Godrej Ind (Daily)

Last Close -- 255.75; Support -- 239, 214; Resistance -- 279, 300

Trading Range: The scrip opened at 255.75, moved up to an intra-day high of 255.75, declined to an intra-day low of 251.00 and closed at 255.75.

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.

Shivvani Oil (Daily)

Last Close -- 480.95; Support -- 467, 429; Resistance -- 500, 550

Trading Range: The scrip opened at 475.00, moved up to an intra-day high of 497.80, declined to an intra-day low of 475.00 and closed at 480.95.

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.

Daily Stock Track

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.