The market has opened with an upward gap, has managed to sustain at higher levels and has ended the day in positive territory. Pharma, FMCG, IT, Oil, Capital Goods, Banks, Consumer Durables, Auto, Metals and PSU's have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a significant decrease (read as turnover) while the undertone seemed bullish.
Sensex (Daily)
Last Close - 11564 | Support - 11500, 11400 | Resistance - 11600, 11700
Trading Range - The Sensex opened at 11343, moved up to an intra-day high of 11579, declined to an intra-day low of 11343 and closed at 11564.
Review/Outlook - The Sensex has once again created history to not only post a fresh all time high but has also given an all time high closing but on distinctly lower volume. The outlook continues to remain positive, as the bigger picture remains quite solid while the intra-day picture seems to have improved again and an intra-day upside cannot be ruled out - action could come in above the 11579 level.
J L Morison. (Daily)
Last Close - 359.20 | Support - 352, 325 | Resistance - 376, 425
Trading Range - The scrip opened at 356.00, moved up to an intra-day high of 359.20, declined to an intra-day low of 356.00 and closed at 359.20.
Review/Outlook - The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards.
Rel. Ind. Infra. (Daily)
Last Close - 409.50 | Support - 370, 309 | Resistance - 415, 484
Trading Range - The scrip opened at 404.00, moved up to an intra-day high of 411.60, declined to an intra-day low of 402.00 and closed at 409.50.
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.
Ansal Infra. (Daily)
Last Close - 757.35 | Support - 750, 725 | Resistance - 800, 850
Trading Range - The scrip opened at 734.95, moved up to an intra-day high of 757.35, declined to an intra-day low of 734.95 and closed at 757.35.
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.
Mangalam Cem. (Daily)
Last Close - 150.20 | Support - 141, 117 | Resistance - 175, 200
Trading Range - The scrip opened at 138.30, moved up to an intra-day high of 150.20, declined to an intra-day low of 137.60 and closed at 150.20.
Review/Outlook - The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards.
|
Scrip |
Support |
Last Close |
Resistance |
Trend |
|
ACC |
750, 724 |
795.50 |
800, 850 |
Sd |
|
DR. REDDY |
1400, 1342 |
1447.25 |
1466, 1500 |
Tu |
|
HLL |
266, 252 |
279.40 |
281, 295 |
Up |
|
INFOSYS |
3074, 2938 |
3143.25 |
3453, 3600 |
Up |
|
ITC |
170, 155 |
199.10 |
210, 225 |
Up |
|
RIL |
800, 775 |
829.25 |
850, 900 |
Up |
|
SATYAM |
830, 810 |
882.30 |
886, 950 |
Up |
|
SBI |
950, 926 |
983.50 |
1000, 1050 |
Up |
|
T MOTORS |
950, 900 |
972.00 |
999, 1050 |
Tu |
|
TISCO |
500, 466 |
542.75 |
550, 605 |
Up |
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 be having positions in the stocks mentioned above.
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