The market on Wednesday came off sharply from its high to end in negative territory.
Banks, consumer durables, FMCG, IT, capital goods, pharma and PSUs all ended quite negative in varying degrees.
Volume registered an increase (read as turnover) while the undertone was cautious.
Sensex --Last Close: 4257.94 | Support: 4166, 4028 | Resistance: 4328, 4554
Trading Range -- The Sensex opened at 4361.87, moved up to an intra-day high of 4367.87, declined to an intra-day low of 4248.86 and closed at 4257.94.
Review/Outlook -- The Sensex has once again posted a new high (a 29 month high) but has retreated sharply from its intra-day high to end in negative territory. This has resulted in a downward "bar" reversal (bearish intra-day pattern) on higher volume indicating the possibility of a further downside today.
Bajaj Auto --Last Close: 728.65 | Support: 707, 630 | Resistance: 859, 999
Trading Range -- The scrip opened at 740.00, moved up to an intra-day high of 747.75, declined to an intra-day low of 725.00 and closed at 728.65.
Review/Outlook -- The scrip has reflected weakness by giving a downward "key" reversal (bearish intra-day pattern) and with the indicators slipping a bit, a further downside seems to be on the cards.
GlaxoSmithKline Consumer --Last Close: 297.00 | Support: 250, 198 | Resistance: 306, 340
Trading Range -- The scrip opened at 289.00, moved up to an intra-day high of 298.20, declined to an intra-day low of 285.00 and closed at 297.00.
Review/Outlook -- The scrip is in the midst of an intermediate uptrend and with the oscillators signalling a buy, a further upside cannot be ruled out.
Siemens --Last Close: 436.15 | Support: 397, 344 | Resistance: 445, 500
Trading Range -- The scrip opened at 434.50, moved up to an intra-day high of 445.00, declined to an intra-day low of 420.00 and closed at 436.15.
Review/Outlook -- The scrip has reflected strength by posting a 43-month high and with the oscillators looking positive, further appreciation seems to be on the cards.
ACC --Last Close: 213.30 | Support: 203, 188 | Resistance: 219, 243
Trading Range -- The scrip opened at 221.60, moved up to an intra-day high of 222.90, declined to an intra-day low of 212.25 and closed at 213.30.
Review/Outlook -- The scrip has wilted a bit by closing below a demand line and with the indicators looking weak, a further downside seems to be on the cards.
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