|
Help | |
You are here: Rediff Home » India » Business » Technicals |
|
| |||||||||||||||||||||||
Advertisement | |||||||||||||||||||||||
| |||||||||||||||||||||||
The market has remained in a positive state of mind, has come off its intra-day low and has finally ended the day in positive territory.
Consumer Durables, FMCG, Auto, Banks, Metals, IT, PSU, Capital Goods & Healthcare have ended positive in varying degrees while Oil has ended in negative territory. Volume registered a distinct decrease (read as turnover) while the undertone seemed hopeful.
Sensex (Daily)
Last Close -- 12856.08; Support -- 12819, 12711; Resistance -- 12925, 13030
Trading Range: The Sensex opened at 12791.60, moved up to an intra-day high of 12899.31, declined to an intra-day low of 12711.50, and closed at 12856.08.
Review/Outlook: The Sensex has reflected some amount of strength by posting a 4 trading session high, has come off smartly from its intra-day low but has run into resistance from a gap on the daily chart on marginally lower volume. Volatility can be the order of the day; an intra-day upside above the 12899 level seems to be on the cards while a small question mark still remains on the sustainability due to significant resistance at higher levels. The outlook seems to have improved just a wee bit while resistance comes in at the 13000+ level and support comes in at the 12800 level.
South East Asia. (Daily)
Last Close -- 194.45; Support -- 192, 167; Resistance -- 213, 239
Trading Range: The scrip opened at 189.00, moved up to an intra-day high of 194.45, declined to an intra-day low of 187.00 and closed at 194.45.
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.
Bayer Crop. (Daily)
Last Close -- 223.25; Support -- 223, 185; Resistance -- 261, 288
Trading Range: The scrip opened at 220.10, moved up to an intra-day high of 224.20, declined to an intra-day low of 216.00 and closed at 223.25.
Review/Outlook: The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Taneja Aero. (Daily)
Last Close -- 174.70; Support -- 158, 138; Resistance -- 175, 200
Trading Range: The scrip opened at 169.00, moved up to an intra-day high of 174.70, declined to an intra-day low of 169.00 and closed at 174.70.
Review/Outlook: The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Pyramid Saimira. (Daily)
Last Close -- 281.05; Support -- 266, 245; Resistance -- 296, 348
Trading Range: The scrip opened at 278.40, moved up to an intra-day high of 288.50, declined to an intra-day low of 268.00 and closed at 281.05.
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.
Daily Stock Track
Scrip | Support | Last Close | Resistance | Trend |
ACC | 697, 668 | 721.90 | 724, 750 | Os |
DR. REDDY | 712, 689 | 729.30 | 733, 757 | Tu |
HLL | 192, 183 | 199.95 | 203, 216 | Sd |
INFOSYS | 1962, 1883 | 1992.30 | 2061, 2133 | Os |
ITC | 144, 136 | 148.10 | 155, 168 | Td |
RIL | 1342, 1316 | 1357.55 | 1373, 1409 | Sd |
SATYAM | 443, 425 | 455.50 | 475, 500 | Sd |
SBI | 926, 900 | 947.95 | 950, 973 | Sd |
T MOTORS | 670, 635 | 686.45 | 698, 722 | Os |
TISCO | 452, 437 | 465.20 | 466, 480 | Sd |
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.
DISCLAIMER: While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.
Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.
Email this Article Print this Article |
|
© 2007 Rediff.com India Limited. All Rights Reserved. Disclaimer | Feedback |