The market has come off sharply from its intra-day high to end in negative territory.

Banks took a major hit, capital goods were subdued, consumer durables, pharma, FMCG, IT, all came under pressure but the weakness was even more apparent in the PSUs. Volume was up (read as turnover) while the undertone was weak.

Sensex -- Last Close: 3289.55 | Support: 3210, 3110 | Resistance: 3320, 3400

Trading Range -- The Sensex opened at 3332.66, moved up to an intra-day high of 3350.02, declined to an intra-day low of 3281.21 and closed at 3289.55.

Review/Outlook -- The Sensex couldn't overcome the 3350 level and witnessed a major sell off. The intra-day charts seem to suggest the possibility of a further decline below the 3281 level.

ABB -- Last Close: 360.20 | Support: 350, 330 | Resistance: 362, 380

Trading Range -- The scrip opened at 353.00, moved up to an intra-day high of 361.95, declined to an intra-day low of 353.00 and closed at 360.20.

Review/Outlook -- The scrip is in an intermediate uptrend and with the oscillators looking strong, a further upside seems possible.

Amara Raja -- Last Close: 69.55 | Support: 68, 62 | Resistance: 74, 88

Trading Range -- The scrip opened at 71.00, moved up to an intra-day high of 71.90, declined to an intra-day low of 69.55 and closed at 69.55.

Review/Outlook -- The scrip has given a downward breakout from a consolidation phase and with the oscillators signalling a sell, a further downside cannot be ruled out.

Siemens -- Last Close: 360.50 | Support: 344, 325 | Resistance: 368, 397

Trading Range -- The scrip opened at 346.60, moved up to an intra-day high of 368.95, declined to an intra-day low of 346.60 and closed at 360.50.

Review/Outlook -- The scrip has given an upward "bar" reversal (bullish intra-day pattern) and with the oscillators looking positive, further appreciation seems to be on the cards.

Tata Tea -- Last Close: 226.00 | Support: 224, 199 | Resistance: 236, 254

Trading Range -- The scrip opened at 236.00, moved up to an intra-day high of 236.00, declined to an intra-day low of 225.10 and closed at 226.00.

Review/Outlook -- The scrip has reflected weakness by giving a downward "key" reversal (bearish intra-day pattern) while a further downside seems to be on the cards.

Stock Track

Scrip Support Last Close Resistance Trend ACC 143, 135 146.90 148, 155 Up HLL 163, 155 169.10 172, 183 Up INFOSYS 2405, 1897 2873.00 2985, 3468 Tu ITC 665, 592 706.25 729, 802 Tu MTNL 95, 85 98.80 103, 115 Sd RIL 302, 269 302.90 324, 345 Sd SATYAM 173, 149 174.00 199, 224 Tu SBI 333, 314 354.30 358, 380 Sd TELCO 179, 168 179.80 186, 199 Up TISCO 150, 139 150.80 166, 175 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, CMP - Current Market Price, 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. 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 has no positions in the stocks mentioned above