Daily market update for 14 Dec

VEDL slipped by 3.27% and closed at Rs.283.55. It witnessed Bearish Engulfing pattern on daily chart. Trading volume increased by 71 percent at last trading day. Currently, it is trading around the lower range of its price band. The crucial support zone is around 282.

UBL rose by 1.22% and settled at Rs.1025. It did rise in the last trading session but fell by a significant margin on a weekly basis. Trading volume hiked by 79 percent at last trading day. But largely the volumes are intraday in nature. Currently, it is trading around the lower range of its price band. The crucial support zone is around 1021.

SUNTV Increase by 2.77% and ended at Rs.916.25. It witnessed Bullish Engulfing pattern on daily chart. Trading volume increased by 278 percent at last trading day. But numerous trades were settled intraday. It Indicates bullish breakout. This stock is currently settled above the recent resistance zone. We see short-term support around 828.

PIDILITIND witnessed Bearish Engulfing pattern on daily chart. PIDILITIND volume spiked by 175 percent on 13 December 2017. It is oscillating nearer to its resistance zone of 886.

M&M volume increased by 59 percent. Interestingly 83% of the trades are deliverable volume. Derivative traders were aggressive in unwinding long positions. Open interest reduced by 3.42 %. It is trading inside the trading range. The Support is seen around 1377 and resistance is seen around 1443.

KOTAKBANK rose by 1.45% and ended at Rs.1014.9. Trading volume rose by 76 percent at last trading day. Furthermore, 67% of the trades are deliverable volume. It is trading inside the trading range. The Support is seen around 994 and resistance is seen around 1043.

IRB dipped by 3.63% and finished at Rs. 195.15. Also, it maintained an exceptional decline over recent days. There is an evidence of It is continuously scaling down for 3 days. It is trading below its recent support zone. The Near-term resistance is seen around 239.

CENTURYTEX plunged by 4.23% and closed at Rs.1326.6. It witnessed Bearish Engulfing pattern on daily chart. Trading volume hiked by 277 percent on 13 December 2017. But a majority of them are intraday in nature. It is trading inside the trading range. The Support is seen around 1262 and resistance is seen around 1374.

CADILAHC volume inflated by 96 percent on Wednesday. Impressively 74% of the trades are deliverable volume. It is likely to witness bearish trend. It is trading below its recent support zone. The Near-term resistance is seen around 453.

ADANIENT slipped by 3.31% and to close at Rs.147.5. Trading volume increased by 51 percent. But largely the volumes are settled intraday. It is trading inside the trading range. The Support is seen around 138 and resistance is seen around 161.

ACC witnessed Star pattern on daily chart. ACC volume inflated by 210 percent at last session. Noticeably 75% of the trades are taken for delivery. Currently, it is trading around the lower range of its price band. The crucial support zone is around 1670.