The market has had a volatile trading session to basically decline from higher levels and has finally ended the day in negative territory. Banks, FMCG, Pharma, IT, Metals, Consumer Durables, Auto, PSU, Capital Goods and Oil have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed subdued.
Sensex (Daily)
Last Close - 10007.34 | Support - 09946, 09880 | Resistance - 10020, 10192
Trading Range - The Sensex opened at 10320.59, moved up to an intra-day high of 10408.16, declined to an intra-day low of 09972.73 and closed at 10007.34.
Review/Outlook - The Sensex has reflected significant amount of weakness by posting a 15 trading session low and it has also managed to close below the 55 Day EMA which is currently placed at 10548.61 albeit on higher volume. The outlook has come under pressure again and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts would seem to suggest support at lower levels indicating the possibility of a late recovery especially in the event of a sharp decline early on.
South East Asia. (Daily)
Last Close - 137.30 | Support - 131, 118 | Resistance - 140, 167
Trading Range - The scrip opened at 133.00, moved up to an intra-day high of 137.30, declined to an intra-day low of 133.00 and closed at 137.30.
Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
El Forge. (Daily)
Last Close - 068.45 | Support - 066, 054 | Resistance - 074, 090
Trading Range - The scrip opened at 061.10, moved up to an intra-day high of 068.45, declined to an intra-day low of 057.55 and closed at 068.45.
Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Aegis Logistics. (Daily)
Last Close - 140.95 | Support - 133, 111 | Resistance - 155, 183
Trading Range - The scrip opened at 151.00, moved up to an intra-day high of 151.95, declined to an intra-day low of 140.95 and closed at 140.95.
Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.
Sakthi Sugar. (Daily)
Last Close - 155.80 | Support - 141, 130 | Resistance - 163, 198
Trading Range - The scrip opened at 165.00, moved up to an intra-day high of 168.90, declined to an intra-day low of 155.80 and closed at 155.80.
Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.
Daily Stock Track
|
Scrip |
Support |
Last Close |
Resistance |
Trend |
|
ACC |
750, 724 |
779.95 |
793, 829 |
Td |
|
DR. REDDY |
1150, 1089 |
1220.00 |
1225, 1282 |
Td |
|
HLL |
224, 216 |
224.05 |
240, 252 |
Td |
|
INFOSYS |
1578, 1537 |
1605.85 |
1625, 1661 |
Td |
|
ITC |
155, 144 |
167.45 |
168, 180 |
Td |
|
RIL |
977, 949 |
982.10 |
1001, 1024 |
Td |
|
SATYAM |
678, 645 |
657.30 |
705, 730 |
Td |
|
SBI |
675, 625 |
689.50 |
695, 729 |
Td |
|
T MOTORS |
635, 600 |
658.05 |
670, 698 |
Td |
|
TISCO |
452, 437 |
458.95 |
466, 480 |
Td |
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 even be having contrary positions in the stocks mentioned above.
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