The market has remained under some pressure while volume has shrunk a lot (indicating drying up at lower levels). Pharma witnessed crosscurrents while the banking sector added some lustre. The IT sector remained under pressure while the undertone remained hopeful.

Sensex -- Last Close: 2950.00 | Support: 2922, 2826 | Resistance: 3007, 3110

Trading Range -- The Sensex opened at 2953.12, moved up to an intra-day high of 2960.92, declined to an intra-day low of 2943.84 and closed at 2950.00.

Review/Outlook -- Though the Sensex has ended in negative territory the trading range has narrowed down because of support at lower levels. Due to gains in the overseas markets, a positive opening cannot be ruled out while the sustainability of such a move would be in doubt.

Bharat Forge -- Last Close: 287.30 | Support: 275, 263 | Resistance: 290, 312

Trading Range -- The scrip opened at 278.95, moved up to an intra-day high of 290.00, declined to an intra-day low of 278.00 and closed at 287.30.

Review/Outlook -- The scrip has reflected strength by moving up with a gap and has posted a 38 month high - a further upside seems possible.

Hindalco -- Last Close: 621.00 | Support: 614, 600 | Resistance: 634, 650

Trading Range -- The scrip opened at 624.00, moved up to an intra-day high of 624.00, declined to an intra-day low of 619.00 and closed at 621.00.

Review/Outlook -- The scrip has reflected weakness by giving a downward 'bar' reversal (bearish intra-day pattern), in the previous trading session and with the oscillators in a similar frame of mind, a further downside cannot be ruled out.

Hinduja TMT -- Last Close: – 186.65 | Support: 181, 157 | Resistance: 205, 238

Trading Range -- The scrip opened at 184.50, moved up to an intra-day high of 188.90, declined to an intra-day low of 182.00 and closed at 186.65.

Review/Outlook -- The scrip has given an upward 'key' reversal (bullish intra-day pattern) after taking support on the 55 day average - further appreciation seems to be on the cards.

Tata Tea -- Last Close: 205.00 | Support: 199, 184 | Resistance: 212, 224

Trading Range -- The scrip opened at 209.90, moved up to an intra-day high of 211.60, declined to an intra-day low of 204.50 and closed at 205.00.

Review/Outlook -- The scrip has reflected weakness by giving a downward 'bar' reversal (bearish intra-day pattern) and with the oscillators supporting the move, a further downside cannot be ruled out.

Stock Track

Scrip Support Last Close Resistance Trend ACC 127, 115 129.45 135, 143 Sd HLL 127, 111 137.95 141, 155 Sd INFOSYS 2405, 1897 2928.60 2985, 3468 Tu ITC 592, 541 663.70 665, 729 Sd MTNL 95, 85 100.50 103, 115  Tu RIL 242, 217 260.95 269, 302 Dt SATYAM 149, 113 168.85 173, 199 Tu SBI 276, 258 285.60 293, 314 Sd TELCO 148, 135 156.50 168,186 Tu TISCO 131, 125 133.90 139, 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