Wednesday was another lacklustre day for trading with some cross currents while volume continued to be miserable. The old economy stocks staged a comeback of sorts while the IT sector took a beating – the undertone appeared marginally better.

Sensex -- Last Close: 2959.79 | Support: 2922, 2826 | Resistance: 3007, 3110

Trading Range -- The Sensex opened at 2942.42, moved up to an intra-day high of 2962.40, declined to an intra-day low of 2942.42 and closed at 2959.79.

Review/Outlook -- The Sensex has recovered smartly from its intra-day lows to end in positive territory. The intra-day charts seem to suggest further appreciation but this can be expected only above the 2962 level.

ACC -- Last Close: 130.90 | Support: 127, 115 | Resistance: 135, 143

Trading Range -- The scrip opened at 130.00, moved up to an intra-day high of 131.70, declined to an intra-day low of 128.75 and closed at 130.90.

Review/Outlook -- The scrip has given an upward 'bar' reversal (reflecting intra-day strength) while an intra-day upside seems possible.

Tisco -- Last Close: 132.20 | Support: 131, 125 | Resistance: 139, 150

Trading Range -- The scrip opened at 131.00, moved up to an intra-day high of 132.55, declined to an intra-day low of 130.15 and closed at 132.20.

Review/Outlook -- The scrip has formed a bullish intra-day pattern and with the oscillators perking up, further progress seems possible.

Zee -- Last Close: 76.85 | Support: 71, 55 | Resistance: 85, 106

Trading Range -- The scrip opened at 072.70, moved up to an intra-day high of 074.45, declined to an intra-day low of 072.70 and closed at 076.85.

Review/Outlook -- The scrip has given an upward breakout from its trading range and with the oscillators also in a positive frame of mind, further appreciation seems to be on the cards.

L&T -- Last Close: 200.60 | Support: 190, 168 | Resistance: 207, 221

Trading Range -- The scrip opened at 196.00, moved up to an intra-day high of 201.00, declined to an intra-day low of 194.50 and closed at 200.60.

Review/Outlook -- The scrip is in the midst of a short-term uptrend while a further upside seems like a distinct possibility.

Stock Track

Scrip Support Last Close Resistance Trend ACC 127, 115 130.90 135, 143 Sd HLL 141, 127 144.35 155, 163 Sd INFOSYS 2405, 1897 2790.65 2985, 3468 Sd ITC 665, 592 682.10 729, 802 Tu MTNL 85, 63 91.45 95, 103 Td RIL 269,242 274.90 302,324 Sd SATYAM 149, 113 152.40 173, 199 Sd SBI 276,258 278.55 293,314 Td TELCO 148,135 150.90 168,186 Dt TISCO 131, 125 132.20 139, 150 Tu 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