The market has staged a smart turnaround from its intra-day lows, while the second rung bank stocks and textile stocks also recovered in tandem. Infotech scrips staged a tentative recovery, while volume was normal and undertone hopeful.

Sensex -- Last Close -- 3062.92 | Support -- 3007, 2922 | Resistance -- 3110, 3210

Trading Range -- The Sensex opened at 3032.85, moved up to an intra-day high of 3066.29, declined to an intra-day low of 3025.20 and closed at 3062.92.

Review/Outlook -- The Sensex has recovered after a weak opening to give an upward "key" reversal (bullish intra-day pattern) thereby heightening the probability of a further upside today above the 3067 level. Intra-day resistance comes in at the 3100 level.

Arvind Mills -- Last Close -- 036.70 | Support -- 035, 028 Resistance -- 041, 050

Trading Range -- The scrip opened at 032.50, moved up to an intra-day high of 037.10, declined to an intra-day low of 032.50 and closed at 036.70.

Review/Outlook -- The scrip has shown short-term strength by giving an upward "bar" reversal (bullish intra-day pattern) and with the oscillators looking positive, a further upside seems possible.

SBI -- Last Close -- 321.25 | Support -- 314, 293 | Resistance -- 333, 358

Trading Range -- The scrip opened at 316.10, moved up to an intra-day high of 322.40, declined to an intra-day low of 312.65 and closed at 321.25.

Review/Outlook -- The scrip has given an upward "key" reversal (bullish intra-day pattern) and with the mechanical indicators supporting the move, a further upside cannot be ruled out.

Sterlite Opticals - Last Close -- 032.35 | Support -- 030, 27.10 | Resistance -- 33.65, 38.45

Trading Range -- The scrip opened at 032.05, moved up to an intra-day high of 032.65, declined to an intra-day low of 031.25 and closed at 032.35.

Review/Outlook -- The scrip has given an upward "key" reversal (bullish intra-day pattern) after taking support on the 10 day average and with the oscillators in a similar vein, further appreciation seems to be on the cards.

Telco - Last Close -- 163.25 | Support -- 148, 135 Resistance | -- 168, 186

Trading Range -- The scrip opened at 159.20, moved up to an intra-day high of 163.85, declined to an intra-day low of 169.20 and closed at 163.25.

Review/Outlook -- The scrip has reflected strength after a 25-week consolidation by closing above its intra-day resistance of 163 - a further upside cannot be ruled out.

Stock Track

Scrip Support Last Close Resistance Trend ACC 127, 115 133.10 135, 143 Tu HLL 141, 127 148.45 155, 163 Tu INFOSYS 2405, 1897 2861.90 2985, 3468 Sd ITC 665, 592 700.50 729, 802 Tu MTNL 85, 63 93.45 95, 103  Td RIL 269, 242 272.25 302, 324 Tu SATYAM 149, 113 171.45 173, 199 Sd SBI 314, 293 321.25 333, 358 Up TELCO 148, 135 163.25 168,186 Tu TISCO 139, 131 140.30 150, 166 Up 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.