The market has faced resistance at higher levels, has come off its intra-day high and has finally ended the day in positive territory. Banks & IT have ended positive in varying degrees while Oil, Metals, Capital Goods, FMCG, Consumer Durables, Auto, Healthcare & the PSU sector have ended in negative territory. Volume registered a nominal decrease (read as turnover) while the undertone seemed hopeful.
Sensex (Daily)
Last Close - 13949.00 | Support - 13931, 13857 | Resistance - 14000, 14100
Trading Range - The Sensex opened at 13951.09, moved up to an intra-day high of 14035.30, declined to an intra-day low of 13847.67 and closed at 13949.00.
Review/Outlook - The Sensex has reflected surprising resilience to not only post a fresh all time high but has also given an all time high closing and has finally ended in positive territory on marginally lower volume. A range bound movement seems to be on the cards but in the event of an early decline a late recovery cannot be ruled out and vice versa while intra-day support comes in at the 13857 13868 levels indicating a limited downside.
GTC Ind. (Daily)
Last Close - 223.70 | Support - 223, 195 | Resistance - 249, 308
Trading Range - The scrip opened at 213.05, moved up to an intra-day high of 223.70, declined to an intra-day low of 213.00 and closed at 223.70.
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.
Nelco. (Daily)
Last Close - 102.75 | Support - 100, 086 | Resistance - 109, 130
Trading Range - The scrip opened at 098.55, moved up to an intra-day high of 102.75, declined to an intra-day low of 098.00 and closed at 102.75.
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.
Gillanders Arbut. (Daily)
Last Close - 110.10 | Support - 108, 096 | Resistance - 120, 132
Trading Range - The scrip opened at 102.85, moved up to an intra-day high of 110.10, declined to an intra-day low of 102.85 and closed at 110.10.
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.
Thiru Arooran. (Daily)
Last Close - 197.40 | Support - 192, 173 | Resistance - 218, 248
Trading Range - The scrip opened at 188.50, moved up to an intra-day high of 197.50, declined to an intra-day low of 185.00 and closed at 197.40.
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 |
1145.15 |
1155, 1200 |
Up |
|
DR. REDDY |
733, 700 |
756.60 |
757, 795 |
Tu |
|
HLL |
224, 216 |
238.60 |
240, 252 |
Sd |
|
INFOSYS |
2200, 2100 |
2244.75 |
2300, 2400 |
Sd |
|
ITC |
180, 168 |
187.50 |
190, 210 |
Tu |
|
RIL |
1241, 1195 |
1280.10 |
1300, 1350 |
Tu |
|
SATYAM |
443, 430 |
463.40 |
475, 500 |
Tu |
|
SBI |
1300, 1250 |
1338.10 |
1350, 1400 |
Up |
|
T MOTORS |
849, 811 |
880.60 |
888, 920 |
Up |
|
TISCO |
480, 466 |
488.90 |
500, 513 |
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.
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 even be having contrary positions in the stocks mentioned above.
Chat with market expert Pranav Sanghavi every Tuesday