The market has remained a bit volatile, in a rather limited range and has finally ended the day in positive territory. banks, capital goods, FMCG, pharma, IT, auto & PSUs have ended positive in varying degrees, while consumer durables, metals & oil have ended in negative territory.
Volume registered a noticeable decrease (read as turnover) while the undertone seemed positive.
Sensex (Daily)
Last Close -- 12071.30; Support -- 12054, 11931, Resistance -- 12104, 12231
Trading Range: The Sensex opened at 12006.19, moved up to an intra-day high of 12114.95, declined to an intra-day low of 12006.19 and closed at 12071.30.
Review/Outlook: The Sensex has continued to forge ahead by posting another 3-½ month high to close a bit more comfortably above the 12000 level but surprisingly enough on distinctly lower volume. The Sensex could appreciate further from an intra-day point of view but only above the 12115 level (the intra-day charts are reflecting some heaviness) but resistance at higher levels coupled with indifferent volume could lead to a slightly lacklustre market.
Polyplex Corp. (Daily)
Last Close -- 121.60; Support -- 114, 092; Resistance -- 123, 140
Trading Range: The scrip opened at 119.80, moved up to an intra-day high of 121.60, declined to an intra-day low of 119.80 and closed at 121.60.
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.
Paushak Ltd (Daily)
Last Close -- 122.05; Support -- 113, 083; Resistance -- 131, 182
Trading Range: The scrip opened at 103.95, moved up to an intra-day high of 122.45, declined to an intra-day low of 100.30 and closed at 122.05.
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.
United Brew (Daily)
Last Close -- 256.25; Support -- 245, 206; Resistance -- 265, 309
Trading Range: The scrip opened at 238.00, moved up to an intra-day high of 256.25, declined to an intra-day low of 238.00 and closed at 256.25.
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.
Peninsula Land (Daily)
Last Close -- 428.85; Support -- 405, 286; Resistance -- 444, 491
Trading Range: The scrip opened at 412.05, moved up to an intra-day high of 428.85, declined to an intra-day low of 411.05 and closed at 428.85.
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 |
924, 892 |
956.20 |
979, 1022 |
Tu |
|
DR. REDDY |
733, 700 |
754.75 |
757, 795 |
Sd |
|
HLL |
240, 224 |
250.55 |
252, 266 |
Tu |
|
INFOSYS |
1800, 1721 |
1817.45 |
1900, 2000 |
Sd |
|
ITC |
180, 168 |
187.10 |
190, 210 |
Sd |
|
RIL |
1109, 1083 |
1132.05 |
1136, 1171 |
Tu |
|
SATYAM |
810, 770 |
823.20 |
830, 860 |
Tu |
|
SBI |
950, 926 |
991.10 |
1000, 1050 |
Tu |
|
T MOTORS |
849, 811 |
859.00 |
888, 944 |
Sd |
|
TISCO |
480, 466 |
498.15 |
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.
