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
Scrip |
Support |
Last Close |
Resistance |
Trend |
ACC |
1025, 994 |
1075.25 |
1099, 1155 |
Tu |
DR. REDDY |
610, 579 |
612.65 |
645, 669 |
Sd |
HUL |
203, 192 |
208.70 |
216, 224 |
Sd |
INFOSYS |
1510, 1457 |
1569.55 |
1667, 1723 |
Os |
ITC |
180, 168 |
186.95 |
193, 213 |
Up |
RIL |
2724, 2682 |
2786.30 |
2805, 2929 |
Sd |
SATYAM |
406, 385 |
424.95 |
425, 443 |
Os |
SBI |
2180, 2050 |
2252.05 |
2279, 2331 |
Sd |
T MOTORS |
698, 670 |
720.50 |
722, 749 |
Sd |
TISCO |
762, 731 |
818.70 |
820, 858 |
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 not only be having positions but could even be having contrary positions in the stocks mentioned above.