The market has continued its good run which has seen a positive closing despite some selling pressure at higher levels.

Banks witnessed profit-taking, IT remained under pressure, Textiles gained ground while PSU's were revelling in the limelight once again. Volume too was high while the undertone was firm.

Sensex -- Last Close: 3180.75 | Support: 3110, 3007 | Resistance: 3210, 3320

Trading Range -- The Sensex opened at 3172.05, moved up to an intra-day high of 3200.48, declined to an intra-day low of 3158.74 and closed at 3180.75.

Review/Outlook -- The Sensex has behaved on expected lines and ran smack into resistance at the 3200 level. The rally is still on but the Sensex needs to sustain above the 3201 level to make further progress.

Bajaj Auto -- Last Close: 515.10 | Support: 504, 472 | Resistance: 545, 590

Trading Range -- The scrip opened at 506.00, moved up to an intra-day high of 517.00, declined to an intra-day low of 504.50 and closed at 515.10.

Review/Outlook -- The scrip has once again ended in positive territory to continue its ascent and with the oscillators looking firm, a further upside seems possible.

Apollo Tyres -- Last Close: 159.75 | Support: 157, 142 | Resistance: 167, 181

Trading Range -- The scrip opened at 151.00, moved up to an intra-day high of 160.80, declined to an intra-day low of 148.00 and closed at 159.75.

Review/Outlook -- The scrip has given an upward breakout from a consolidation pattern and with the oscillators signalling a buy, a further upside cannot be ruled out.

BASF -- Last Close: 110.05 | Support: 110, 102 | Resistance: 116, 122

Trading Range -- The scrip opened at 107.15, moved up to an intra-day high of 110.40, declined to an intra-day low of 105.25 and closed at 110.05.

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

Shyam Tele -- Last Close: 35.10 | Support: 33, 30 | Resistance: 38, 43

Trading Range -- The scrip opened at 32.20, moved up to an intra-day high of 36.15, declined to an intra-day low of 32.20 and closed at 35.10.

Review/Outlook -- The scrip has reflected short term strength by closing above the 10 and 55 day averages while a further upside seems to be on the cards.

Stock Track

Scrip Support Last Close Resistance Trend ACC 143, 135 145.30 148, 155 Up HLL 155, 141 157.55 163, 172 Up INFOSYS 2405, 1897 2672.40 2985, 3468 Sd ITC 665, 592 693.75 729, 802 Sd MTNL 85, 63 93.35 95, 103 Td RIL 269, 242 298.95 302, 324 Up SATYAM 149, 113 167.30 173, 199 Sd SBI 333, 314 352.30 358, 380 Up TELCO 168, 155 171.55 179, 186 Sd TISCO 150, 139 157.80 166, 175 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