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The market has had a volatile trading session to basically recover from start to finish and has finally ended the day sharply in positive territory. Banks, FMCG, Pharma, IT, Metals, Consumer Durables, Auto, PSU, Capital Goods and Oil have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed upbeat.
Sensex (Daily)
Last Close - 10352.94 | Support - 10305, 10192 | Resistance - 10424, 10556
Trading Range - The Sensex opened at 10189.67, moved up to an intra-day high of 10409.58, declined to an intra-day low of 10189.67 and closed at 10352.94.
Review/Outlook - The Sensex has staged a smart recovery from lower levels and has actually opened with a large upward gap to move up virtually from open to close but disconcertingly enough on clearly lower volume. The outlook has come under pressure again and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts would seem to suggest an upside today especially above the 10410 but runs into strong resistance at higher levels inducing the need to observe caution.
South East Asia. (Daily)
Last Close - 144.15 | Support - 140, 118 | Resistance - 167, 192
Trading Range - The scrip opened at 141.00, moved up to an intra-day high of 144.15, declined to an intra-day low of 141.00 and closed at 144.15.
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.
El Forge. (Daily)
Last Close - 074.80 | Support - 074, 066 | Resistance - 090, 115
Trading Range - The scrip opened at 072.00, moved up to an intra-day high of 075.25, declined to an intra-day low of 068.00 and closed at 074.80.
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.
Orient Paper. (Daily)
Last Close - 389.00 | Support - 383, 331 | Resistance - 400, 488
Trading Range - The scrip opened at 380.00, moved up to an intra-day high of 389.00, declined to an intra-day low of 376.00 and closed at 389.00.
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.
Emco Limited. (Daily)
Last Close - 411.85 | Support - 405, 320 | Resistance - 449, 563
Trading Range - The scrip opened at 408.00, moved up to an intra-day high of 411.85, declined to an intra-day low of 389.05 and closed at 411.85.
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 |
793, 750 |
813.40 |
829, 856 |
Td |
|
DR. REDDY |
1225, 1150 |
1263.65 |
1282, 1342 |
Td |
|
HLL |
224, 216 |
231.20 |
240, 252 |
Td |
|
INFOSYS |
1625, 1578 |
1648.05 |
1661, 1727 |
Td |
|
ITC |
168, 155 |
174.95 |
180, 190 |
Td |
|
RIL |
977, 949 |
995.70 |
1001, 1024 |
Td |
|
SATYAM |
678, 645 |
688.55 |
705, 730 |
Td |
|
SBI |
695, 675 |
725.75 |
729, 784 |
Td |
|
T MOTORS |
670, 635 |
687.55 |
698, 722 |
Td |
|
TISCO |
480, 466 |
487.10 |
500, 530 |
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 even be having contrary positions in the stocks mentioned above.
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