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May 16, 2007 08:03 IST
Last Updated: May 16, 2007 08:08 IST

The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day in negative territory. Capital Goods, Healthcare, Consumer Durables, IT, Auto, Metals & Oil have ended negative in varying degrees while Banks, FMCG, Healthcare & PSU's have ended in negative territory. Volume registered a marginal increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 13929.33 | Support - 13857, 13723 Resistance - 13931, 14035

Trading Range - The Sensex opened at 13948.91, moved up to an intra-day high of 14023.86, declined to an intra-day low of 13885.46 and closed at 13929.33.

Review/Outlook - The Sensex has reflected some minor weakness and despite a negative opening, has received significant selling pressure to give up all of its gains to come off from its intra-day high and has finally ended in negative territory on mildly higher volume. Volatility can be the order of the day; a mild intra-day downside (could be a possibility) could come in below the 13900 level while some support comes in at lower levels (13864 - which could limit the downside) while a mixed bias cannot be ruled out. The outlook seems to be turning better again while resistance comes in at the 14400+ level and support comes in at the 13600 level.

Pratibha Ind. (Daily)

Last Close - 234.20 | Support - 219, 181 | Resistance - 251, 278

Trading Range - The scrip opened at 223.50, moved up to an intra-day high of 234.20, declined to an intra-day low of 223.25 and closed at 234.20.

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.

Sh. Ashtavinayak (Daily)

Last Close - 190.20 | Support - 177, 157 | Resistance - 228, 269

Trading Range - The scrip opened at 174.20, moved up to an intra-day high of 190.45, declined to an intra-day low of 174.20 and closed at 190.20.

Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Bartronics. (Daily)

Last Close - 126.75 | Support - 118, 109 | Resistance - 133, 155

Trading Range - The scrip opened at 115.90, moved up to an intra-day high of 126.75, declined to an intra-day low of 115.90 and closed at 126.75.

Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Fortis Fin. Ser. (Daily)

Last Close - 103.30 | Support - 099, 082 | Resistance - 106, 127

Trading Range - The scrip opened at 098.00, moved up to an intra-day high of 103.30, declined to an intra-day low of 097.00 and closed at 103.30.

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

875.10

892, 924

Up

DR. REDDY

645, 610

657.45

669, 689

Os

HLL

192, 183

193.10

203, 216

Td

INFOSYS

1962, 1883

1972.55

2061, 2133

Sd

ITC

155, 144

161.95

168, 180

Tu

RIL

1547, 1496

1597.85

1625, 1700

Up

SATYAM

443, 425

452.15

475, 500

Sd

SBI

1225, 1190

1226.65

1281, 1350

Up

T MOTORS

698, 670

714.60

722, 749

Sd

TISCO

570, 543

591.60

593, 617

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 even be having contrary positions in the stocks mentioned above.
 
 


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