The market has received support at lower levels, has come off its intra-day low and has finally ended the day clearly in positive territory. Consumer Durables, Auto, Metals, Capital Goods, Oil, PSU, FMCG, Healthcare, Banks & IT have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed upbeat.
Sensex (Daily)
Last Close - 13844.78 | Support - 13790, 13723 | Resistance - 13900, 14000
Trading Range - The Sensex opened at 13729.67, moved up to an intra-day high of 13857.81, declined to an intra-day low of 13725.78 and closed at 13844.78.
Review/Outlook - The Sensex has reflected surprising resilience to open with an upward gap, staged an intra-day upmove virtually from open to close and has finally ended in positive territory on distinctly lower volume. A range bound movement seems to be on the cards while an intra-day upside cannot be ruled out above the 13858 level while intra-day support comes in at the 13790-13800 levels indicating a limited downside.
BPL Ltd. (Daily)
Last Close - 071.45 | Support - 065, 054 | Resistance - 087, 112
Trading Range - The scrip opened at 068.20, moved up to an intra-day high of 071.45, declined to an intra-day low of 068.20 and closed at 071.45.
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.
Flex Engg. (Daily)
Last Close - 043.70 | Support - 043, 036 | Resistance - 053, 065
Trading Range - The scrip opened at 043.25, moved up to an intra-day high of 043.70, declined to an intra-day low of 041.40 and closed at 043.70.
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.
DCM Shriram. (Daily)
Last Close - 097.20 | Support - 092, 073 | Resistance - 099, 121
Trading Range - The scrip opened at 093.35, moved up to an intra-day high of 097.20, declined to an intra-day low of 093.35 and closed at 097.20.
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.
Sagar Cement. (Daily)
Last Close - 124.10 | Support - 116, 091 | Resistance - 126, 151
Trading Range - The scrip opened at 117.90, moved up to an intra-day high of 126.25, declined to an intra-day low of 117.90 and closed at 124.10.
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.
Daily Stock Track
|
Scrip |
Support |
Last Close |
Resistance |
Trend |
|
ACC |
1110, 1061 |
1132.25 |
1150, 1200 |
Up |
|
DR. REDDY |
757, 733 |
770.45 |
795, 840 |
Tu |
|
HLL |
240, 224 |
240.45 |
252, 266 |
Sd |
|
INFOSYS |
2100, 2000 |
2193.75 |
2200, 2300 |
Sd |
|
ITC |
180, 168 |
187.90 |
190, 210 |
Tu |
|
RIL |
1241, 1195 |
1261.00 |
1300, 1350 |
Sd |
|
SATYAM |
443, 430 |
466.85 |
475, 500 |
Tu |
|
SBI |
1350, 1300 |
1360.20 |
1400, 1450 |
Up |
|
T MOTORS |
811, 771 |
842.90 |
849, 888 |
Up |
|
TISCO |
466, 452 |
468.20 |
480, 500 |
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.
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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.
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