The market has come under some pressure and has remained subdued, but this has not affected the second rung stocks which have gone from strength to strength.
Textiles, capital goods and PSUs continued to rule the roost, while infotech was again a weak spot. Volume was normal and the undertone was sombre.
Sensex -- Last Close -- 3040.79 | Support -- 3007, 2922 | Resistance -- 3110, 3210
Trading Range -- The Sensex opened at 3055.20, moved up to an intra-day high of 3067.12, declined to an intra-day low of 3032.91 and closed at 3040.79.
Review/Outlook -- The Sensex has declined to close in negative territory but has support at the 3035 level in the form of the 10 day average. A range bound movement cannot be ruled out.
BEML -- Last Close -- 082.30 | Support -- 076, 067 | Resistance -- 084, 093
Trading Range -- The scrip opened at 080.70, moved up to an intra-day high of 083.00, declined to an intra-day low of 080.00 and closed at 082.30.
Review/Outlook -- The scrip has shown short-term strength by posting a 2-½ month high and with the oscillators looking positive, a further upside seems possible.
Hindalco -- Last Close -- 685.00 | Support -- 675, 650 | Resistance -- 690, 741
Trading Range -- The scrip opened at 662.00, moved up to an intra-day high of 687.65, declined to an intra-day low of 653.00 and closed at 685.00.
Review/Outlook -- The scrip has given an upward "bar" reversal (bullish intra-day pattern) and with oscillators looking positive - a further upside cannot be ruled out.
Satyam -- Last Close -- 160.10 | Support -- 149, 113 | Resistance -- 173, 199
Trading Range -- The scrip opened at 165.20, moved up to an intra-day high of 165.20, declined to an intra-day low of 159.10 and closed at 160.10.
Review/Outlook -- The scrip has closed below the 10-day average and a demand line simultaneously and with the oscillators in a similar vein (read as sell mode), further depreciation seems to be on the cards.
Supreme Industries -- Last Close -- 111.90 | Support -- 110, 096 | Resistance -- 126, 144
Trading Range -- The scrip opened at 104.00, moved up to an intra-day high of 112.40, declined to an intra-day low of 102.00 and closed at 111.90.
Review/Outlook -- The scrip has reflected strength by giving an upward breakout from a consolidation phase - a further upside cannot be ruled out.
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