The market has recovered smartly from lower levels to basically come off its intra-day high and has finally ended the day in positive territory. Metals, Consumer Durables, Auto Banks, FMCG, Pharma, Oil, Capital Goods & PSU's have ended positive in varying degrees while IT has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed better.
Sensex (Daily)
Last Close - 11918.65 | Support - 11826, 11707 | Resistance - 11931, 12054
Trading Range - The Sensex opened at 11859.44, moved up to an intra-day high of 11940.58, declined to an intra-day low of 11825.22 and closed at 11918.65.
Review/Outlook - The Sensex has faced alternate bouts of both, buying and selling, has come off its intra-day low to end in positive territory on clearly higher volume and has managed to close above the 11000 level for the twenty third 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 to be pointing towards a distinct upward bias but only below the 11945 level today - the sanctity of the 11620 level needs to be maintained at all times.
Zuari Ind. (Daily)
Last Close - 180.40 | Support - 179, 148 | Resistance - 215, 272
Trading Range - The scrip opened at 173.00, moved up to an intra-day high of 180.40, declined to an intra-day low of 170.00 and closed at 180.40.
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.
Gitanjali Gems. (Daily)
Last Close - 213.30 | Support - 211, 169 | Resistance - 268, 311
Trading Range - The scrip opened at 209.90, moved up to an intra-day high of 216.40, declined to an intra-day low of 209.10 and closed at 213.30.
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.
Mather Platt. (Daily)
Last Close - 142.00 | Support - 125, 087 | Resistance - 160, 183
Trading Range - The scrip opened at 140.00, moved up to an intra-day high of 144.00, declined to an intra-day low of 137.00 and closed at 142.00.
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.
Bombay Bur. (Daily)
Last Close - 343.35 | Support - 315, 265 | Resistance - 386, 437
Trading Range - The scrip opened at 333.00, moved up to an intra-day high of 343.35, declined to an intra-day low of 328.25 and closed at 343.35.
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.
Daily Stock Track
|
Scrip |
Support |
Last Close |
Resistance |
Trend |
|
ACC |
924, 892 |
945.45 |
979, 1022 |
Tu |
|
DR. REDDY |
733, 700 |
738.10 |
757, 795 |
Tu |
|
HLL |
240, 224 |
240.95 |
252, 266 |
Tu |
|
INFOSYS |
1721, 1661 |
1794.70 |
1800, 1900 |
Up |
|
ITC |
180, 168 |
188.10 |
190, 210 |
Up |
|
RIL |
1109, 1083 |
1130.35 |
1136, 1171 |
Tu |
|
SATYAM |
770, 752 |
797.40 |
810, 830 |
Tu |
|
SBI |
926, 900 |
943.05 |
950, 1000 |
Up |
|
T MOTORS |
888, 849 |
898.00 |
944, 900 |
Up |
|
TISCO |
500, 480 |
524.80 |
530, 550 |
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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