The market has had a volatile trading session to basically come off its intra-day low and has finally ended the day clearly in positive territory. FMCG, capital goods, IT, metal, PSU, auto, oil, consumer durables and pharma have ended positive in varying degrees while banks have ended in negative territory. Volume registered a surprising decrease (read as turnover) while the undertone seemed positive.
Sensex (Daily)
Last Close - 11312.99, Support - 11286, 11186, Resistance - 11356, 11453
Trading Range: The Sensex opened at 11221.86, moved up to an intra-day high of 11330.30, declined to an intra-day low of 11221.86 and closed at 11312.99.
Review/Outlook: The Sensex has faced alternate bouts of both, buying & selling and has come off its intra-day low to end smartly in positive territory on noticeably lower volume and has managed to close above the 11000 level for the fifth trading session in a row. The outlook seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts seem rather hazy while an upside could come in only above the 11331 level while the sanctity of the 11000 level needs to be maintained at all times.
Ansal Infra. (Daily)
Last Close - 444.80, Support - 411, 302, Resistance - 455, 500
Trading Range: The scrip opened at 421.70, moved up to an intra-day high of 444.80, declined to an intra-day low of 421.70 and closed at 444.80.
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.
Vakrangee Soft. (Daily)
Last Close - 191.10, Support - 150, 143, Resistance - 200, 223
Trading Range: The scrip opened at 183.40, moved up to an intra-day high of 191.35, declined to an intra-day low of 178.50 and closed at 191.10.
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.
United Brew. (Daily)
Last Close - 223.45, Support - 207, 169, Resistance - 237, 276
Trading Range: The scrip opened at 206.00, moved up to an intra-day high of 223.45, declined to an intra-day low of 206.00 and closed at 223.45.
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.
Zenith Infotech. (Daily)
Last Close - 228.30, Support - 200, 175, Resistance - 250, 300
Trading Range: The scrip opened at 212.00, moved up to an intra-day high of 228.30, declined to an intra-day low of 212.00 and closed at 228.30.
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 |
856, 829 |
887.85 |
892, 924 |
Tu |
|
DR. REDDY |
1400, 1342 |
1439.20 |
1466, 1514 |
Tu |
|
HLL |
224, 216 |
227.20 |
240, 252 |
Sd |
|
INFOSYS |
1721, 1661 |
1755.40 |
1800, 1900 |
UP |
|
ITC |
168, 155 |
178.60 |
180, 190 |
Up |
|
RIL |
1001, 977 |
1029.05 |
1041, 1083 |
Tu |
|
SATYAM |
770, 752 |
773.8 |
810, 830 |
Tu |
|
SBI |
871, 850 |
872.35 |
900, 926 |
Up |
|
T MOTORS |
771, 749 |
801.00 |
811, 849 |
Up |
|
TISCO |
530, 500 |
531.50 |
550, 570 |
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.
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Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.