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February 08, 2008 09:46 IST
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, FMCG, IT, Auto, Capital Goods, Realty, Consumer Durables, Healthcare, Metal, PSU & 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 panicky.

Sensex (Daily)

Last Close - 17526.93 | Support - 17494, 17361 | Resistance - 17953, 18319

Trading Range - The Sensex opened at 18198.68, moved up to an intra-day high of 18198.68, declined to an intra-day low of 17492.28 and closed at 17526.93. 

Review/Outlook - The Sensex has had a weak trading session, has had a positive opening, has moved just one way, has received selling pressure even at lower levels, has come off from its intra - day high and has finally ended in negative territory on higher volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 17492 level while significant support at lower levels (17292) � would limit the downside. The outlook has turned negative again while resistance comes in at the 18800+ level and support comes in at the 17200 level.  

Andhra Prad. (Daily)                                                

Last Close - 100.70 | Support - 092, 072 | Resistance - 119, 134

Trading Range - The scrip opened at 089.00, moved up to an intra-day high of 103.00, declined to an intra-day low of 088.55 and closed at 100.70.

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.   

Rajvir Ind. (Daily)

Last Close - 141.70 | Support - 24, 082 | Resistance - 159, 191

Trading Range - The scrip opened at 126.00, moved up to an intra-day high of 153.00, declined to an intra-day low of 126.00 and closed at 141.70.

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.   

Ess Dee Alum. (Daily)                                                  

Last Close - 666.85 | Support - 649, 495 | Resistance - 701, 842

Trading Range - The scrip opened at 610.00, moved up to an intra-day high of 700.00, declined to an intra-day low of 581.00 and closed at 666.85.

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.       

Tata Power [Get Quote]. (Daily)                                              

Last Close - 1415.60 | Support - 1358, 1290 | Resistance - 1465, 1533

Trading Range - The scrip opened at 1420.00, moved up to an intra-day high of 1468.00, declined to an intra-day low of 1392.00 and closed at 1415.60.

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

750, 724

772.70

778, 829

Sd

DR. REDDY

487, 450

522.65

530, 579

Td

HUL

192, 183

199.60

203, 216

Sd

INFOSYS [Get Quote]

1457, 1425

1480.90

1510, 1667

Sd

ITC

180, 168

192.20

193, 213

Td

RIL [Get Quote]

2309, 2274

2425.00

2426, 2539

Sd

SATYAM [Get Quote]

385, 366

390.85

406, 425

Sd

SBI [Get Quote]

2050, 1905

2155.20

2180, 2279

Sd

T MOTORS

698, 670

714.90

722, 749

Sd

T STEEL

762, 731

771.40

820, 858

Tu

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 not only be having positions but could even be having contrary positions in the stocks mentioned above.  


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