JINDAL STEEL AND POWER breached its support level and made intraday low of 545.95. The stock has now resistance level at 580 and may take support from the level of 539. It is expected to remain range bound in short term.

R - 580

S - 539

M&M showed negative side movements today and closed with moderate losses. The stock now has support level at 697 andresistance level at 727. It is expected to consolidate and remain range bound in short term, also breaching of support level may take the stock at lower levels.

R - 727

S - 697

After making low 889.90 it is continuously moving in a downward trend and a recovery from the level of 818.50 made it to trade and close above the 10 days DMA. In order to be in an upward trend it has to trade and consolidate above the 10 days and 50 days moving averages. It is now taking support at 818 below this level it would be in a downward trend.

R - 840

S - 818