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Hemen Kapadia / Morpheus Inc in Mumbai
 
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February 20, 2008 10:38 IST

The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day in positive territory. Consumer Durables, Banks, Auto, FMCG, Capital Goods, Healthcare & IT have ended positive in varying degrees while Metal, Oil, PSU & Realty have ended in negative territory.

Volume registered a noticeable increase (read as turnover) while the undertone seemed confused.

Sensex (Daily)

Last Close | 18075.66; Support | 17953, 17494; Resistance | 18319, 18632

Trading Range: The Sensex opened at 18215.26, moved up to an intra-day high of 18314.10, declined to an intra-day low of 18018.48 and closed at 18075.66.

Review/Outlook: The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has received selling pressure at higher levels, has come off from its intra - day high and has finally ended in positive 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 18029 level while significant support at lower levels (17902) | would limit the downside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 16200 level.

Madhucon Proj. (Daily)

Last Close | 679.65; Support | 646, 562; Resistance | 714, 780

Trading Range: The scrip opened at 665.00, moved up to an intra-day high of 690.00, declined to an intra-day low of 646.25 and closed at 679.65.

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.

KS Oil. (Daily)

Last Close | 085.90; Support | 083, 066; Resistance | 089, 116

Trading Range: The scrip opened at 082.25, moved up to an intra-day high of 090.55, declined to an intra-day low of 082.20 and closed at 085.90.

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.

Vakrangee Soft. (Daily)

Last Close | 217.05; Support | 209, 181; Resistance | 237, 265

Trading Range: The scrip opened at 210.00, moved up to an intra-day high of 225.65, declined to an intra-day low of 209.00 and closed at 217.05.

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.

Orissa Sponge. (Daily)

Last Close | 494.70 ; Support | 459, 418; Resistance | 497, 567

Trading Range: The scrip opened at 503.00, moved up to an intra-day high of 503.90, declined to an intra-day low of 460.10 and closed at 494.70.

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.

Daily Stock Track

Scrip

Support

Last Close

Resistance

Trend

ACC

778, 750

789.45

829, 856

Sd

DR. REDDY

530, 487

531.20

579, 610

Sd

HUL

216, 203

221.10

224, 240

Sd

INFOSYS [Get Quote]

1510, 1457

1556.80

1667, 1723

Sd

ITC

193, 180

205.40

213, 227

Sd

RIL [Get Quote]

2539, 2426

2553.00

2615, 2684

Sd

SATYAM [Get Quote]

406, 385

421.60

425, 443

Sd

SBI [Get Quote]

2180, 2050

2263.65

2279, 2331

Tu

T MOTORS

722, 698

737.90

749, 771

Tu

T STEEL

762, 731

812.60

820, 858

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


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