The market seems to be biding its time, waiting for some of trigger to materialise and the volume (read as turnover) would seem to indicate a lack of interest while the undertone looks to have improved a wee bit.
Sensex -- Last Close: 2996.97 | Support: 2922, 2826 | Resistance: 3007, 3110
Trading Range- The Sensex opened at 2992.90, moved up to an intra-day high of 3002.11, declined to an intra-day low of 2985.60 and closed at 2996.97.
Review/Outlook- The Sensex has reflected indecision by staying within the previous day's trading range but the intra-day charts would seem to indicate an upside above the 3003 level today.
ABB -- Last Close: 314.70 | Support: 306, 288 | Resistance: 316, 330
Trading Range- The scrip opened at 309.00, moved up to an intra-day high of 315.85, declined to an intra-day low of 307.50 and closed at 314.70.
Review/Outlook- The scrip has recovered smartly from lower levels and with the oscillators signalling a buy, an upside cannot be ruled out.
Jindal Steel -- Last Close: 350.15 | Support: 345, 330 | Resistance: 357, 373
Trading Range - The scrip opened at 349.00, moved up to an intra-day high of 351.85, declined to an intra-day low of 345.00 and closed at 350.15.
Review/Outlook - The scrip has been receiving support from the 345 level only to give a positive closing, heightening the chances of an intra-day upside.
MTNL -- Last Close: 96.30 | Support: 95, 85 | Resistance: 103, 115
Trading Range- The scrip opened at 95.25, moved up to an intra-day high of 96.95, declined to an intra-day low of 94.65 and closed at 96.30.
Review/Outlook- The scrip is showing some sparks of life only to close in positive territory at the same time, indicating its intention of an intra-day upside.
Sterlite Opticals -- Last Close: 33.35 | Support: 30, 27.10 | Resistance: 33.65, 38.45
Trading Range- The scrip opened at 031.95, moved up to an intra-day high of 033.90, declined to an intra-day low of 031.40 and closed at 033.35.
Review/Outlook- The scrip has bounced back from lower levels to close above the 10 day average indicating bullish intentions over the short term.
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