The market has remained in a weak state of mind, has come off its intra-day high and has finally ended the day in negative territory.
Banks, Consumer Durables, FMCG, Healthcare, IT, Auto, Metal, PSU, Oil, Capital Goods & Realty have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed despondent.
Sensex (Daily)
Last Close | 16907.11; Support | 16681, 16416; Resistance | 16964, 17292
Trading Range: The Sensex opened at 17104.59, moved up to an intra-day high of 17104.59, declined to an intra-day low of 16863.38 and closed at 16907.11.
Review/Outlook: The Sensex has had a weak trading session, has had a negative opening, has moved just one way, has faced selling pressure even at lower levels, has come off from its intra - day high and has finally ended in negative territory on lower volume. Volatility can be the order of the day; an intra-day upside (seems like a distinct possibility) could come in only above the 16929 level while significant resistance at higher levels (17137) | would limit the upside. The outlook is turning stable again while resistance comes in at the 17300+ level and support comes in at the 15300 level.
IB Securities (Daily)
Last Close | 119.50; Support | 112, 085; Resistance | 143, 189
Trading Range: The scrip opened at 115.00, moved up to an intra-day high of 122.00, declined to an intra-day low of 114.60 and closed at 119.50.
Review/Outlook: The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
K S Oil Ltd (Daily)
Last Close | 078.25; Support | 074, 057; Resistance | 089, 116
Trading Range: The scrip opened at 075.80, moved up to an intra-day high of 078.95, declined to an intra-day low of 075.10 and closed at 078.25.
Review/Outlook: The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Modern India (Daily)
Last Close | 281.80; Support | 274, 216; Resistance | 308, 352
Trading Range: The scrip opened at 277.90, moved up to an intra-day high of 287.90, declined to an intra-day low of 273.05 and closed at 281.80.
Review/Outlook: The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Brushman Ind (Daily)
Last Close | 119.60; Support | 108, 085; Resistance | 127, 153
Trading Range: The scrip opened at 117.75, moved up to an intra-day high of 120.45, declined to an intra-day low of 114.00 and closed at 119.60.
Review/Outlook: The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Daily Stock Track
|
Scrip |
Support |
Last Close |
Resistance |
Trend |
|
ACC |
656, 615 |
680.00 |
697, 724 |
Sd |
|
DR. REDDY |
645, 610 |
680.40 |
689, 712 |
Up |
|
HUL |
224, 216 |
235.00 |
240, 252 |
Td |
|
INFOSYS |
1834, 1785 |
1860.70 |
1917, 1999 |
Up |
|
ITC |
213, 193 |
223.05 |
227, 240 |
Up |
|
RIL |
2615, 2539 |
2617.35 |
2684, 2724 |
Tu |
|
SATYAM |
475, 443 |
489.40 |
493, 522 |
Up |
|
SBI |
1539, 1472 |
1607.00 |
1624, 1678 |
Sd |
|
T MOTORS |
635, 600 |
661.45 |
670, 698 |
Tu |
|
T STEEL |
890, 858 |
908.50 |
924, 952 |
Up |
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 not only be having positions but could even be having contrary positions in the stocks mentioned above.
