Trading strategy for June 13

The market has gained ground to end the day in positive territory once again. Banks were mixed, capital goods and pharma forged ahead, consumer durables, FMCG, IT and PSUs just about moved up.

Volume was mixed (higher on BSE, lower on NSE) (read as turnover) while the undertone was hopeful.

Sensex -- Last Close: 3337.30 | Support: 3320, 3210 | Resistance: 3400, 3467

Trading Range -- The Sensex opened at 3318.90, moved up to an intra-day high of 3340.98, declined to an intra-day low of 3318.90 and closed at 3337.30.

Review/Outlook -- The Sensex has ended in positive territory for the second session in a row, the outlook hasn't changed much while a closing above the 3350 level is a must if the market has to continue its upmove.

Dr Reddy's -- Last Close: 959.50 | Support: 919, 879 | Resistance: 998, 1081

Trading Range -- The scrip opened at 930.00, moved up to an intra-day high of 963.90, declined to an intra-day low of 930.00 and closed at 959.50.

Review/Outlook -- The scrip has given an upward "key" reversal (bullish intra-day pattern) and with the oscillators looking strong, a further upside seems possible.

Aventis Pharma -- Last Close: 342.10 | Support: 330, 305 | Resistance: 348, 365

Trading Range -- The scrip opened at 335.00, moved up to an intra-day high of 344.00, declined to an intra-day low of 335.00 and closed at 342.10.

Review/Outlook -- The scrip has given an upward breakout from a consolidation phase and with the oscillators signalling a buy, a further upside cannot be ruled out.

HLL -- Last Close: 170.70 | Support: 163, 155 | Resistance: 172, 183

Trading Range -- The scrip opened at 170.40, moved up to an intra-day high of 171.75, declined to an intra-day low of 169.50 and closed at 170.70.

Review/Outlook -- The scrip has given an upward "key" reversal (bullish intra-day pattern) and with the oscillators looking positive, further appreciation seems to be on the cards.

NIIT -- Last Close: 144.00 | Support: 141, 126 | Resistance: 150, 161

Trading Range -- The scrip opened at 140.75, moved up to an intra-day high of 144.85, declined to an intra-day low of 139.15 and closed at 144.00.

Review/Outlook -- The scrip has reflected strength by giving an upward breakout from a consolidation phase while a further upside seems to be on the cards.