Trading strategy for June 25

The market remained subdued to again end in negative territory.

Banks were mixed, capital goods, IT remained under pressure but it was the pharma sector which was a clear loser.

consumer durables, FMCG and PSUs ended on a positive note. Volume was lower (read as turnover) while the undertone was mixed.

Sensex -- Last Close -- 3447.45  | Support -- 3400, 3320  | Resistance -- 3467, 3545

Trading Range -- The Sensex opened at 3441.07, moved up to an intra-day high of 3473.23, declined to an intra-day low of 3438.27 and closed at 3447.45.

Review/Outlook -- The Sensex remained range bound on low volume to end in negative territory but the downside appears to be limited due to strong  | Support at lower levels.  

ACC -- Last Close -- 157.10  | Support -- 155, 148   | Resistance -- 166, 175

Trading Range -- The scrip opened at 156.00, moved up to an intra-day high of 158.70, declined to an intra-day low of 155.50 and closed at 157.10.

Review/Outlook -- The scrip has given an upward "key" reversal (bullish intra-day pattern) and with the oscillators looking strong, a further downside seems possible.

SBI -- Last Close -- 359.10  | Support -- 358, 333 --  | Resistance -- 380, 415

Trading Range -- The scrip opened at 353.75, moved up to an intra-day high of 360.00, declined to an intra-day low of 348.50 and closed at 359.10.

Review/Outlook -- The scrip has given an upward "key" reversal (bullish intra-day pattern) and with the oscillators signalling a buy, a further upside cannot be ruled out. 

Sterlite Optical -- Last Close -- 051.70  | Support -- 046, 039   | Resistance -- 060, 080

Trading Range -- The scrip opened at 048.40, moved up to an intra-day high of 052.20, declined to an intra-day low of 047.60 and closed at 051.70.

Review/Outlook -- The scrip has reflected strength by overcoming a supply line and with the oscillators looking positive, further appreciation seems to be on the cards.  

Supreme Industries -- Last Close -- 128.30  | Support -- 126, 110  | Resistance -- 144, 156

Trading Range -- The scrip opened at 125.00, moved up to an intra-day high of 129.00, declined to an intra-day low of 125.00 and closed at 128.30.

Review/Outlook -- The scrip has given an upward "key" reversal (bullish intra-day pattern) and with the indicators looking firm, a further upside seems to be on the cards.

Stock Track

Scrip Support Last Close Resistance Trend ACC 155, 148 157.10 166, 175 Up HLL 163, 155 171.80 172, 183 Up INFOSYS 2985, 2405 3144.00 3468, 3977 Tu ITC 729, 665 730.95 759, 802 Up MTNL 103, 95 107.05 115, 124 Tu RIL 302, 269 320.00 324, 345 Up SATYAM 173, 149 181.30 199, 224 Sd SBI 358, 333 359.10 380, 415 Sd TELCO 186, 176 187.15 199, 215 Up TISCO 150, 139 159.60 166, 175 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, CMP - Current Market Price, 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. 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 has no positions in the stocks mentioned above.