The market has forged ahead with its scintillating recovery to end the week on a euphoric note. Banks, capital goods, consumer durables, FMCG, pharma, IT and PSUs were all gainers of the day.

Volume registered a decrease (read as turnover) while the undertone was bullish.

Sensex --Last Close: 3726.46 | Support: 3651, 3545 | Resistance: 3759, 3895

Trading Range -- The Sensex opened at 3685.31, moved up to an intra-day high of 3737.76, declined to an intra-day low of 3661.69 and closed at 3726.46.

Review/Outlook -- The Sensex has continued its positive momentum to end on an extremely strong footing despite the lower volume. The current move looks set to gain further ground barring resistance from the 3750 – 3760 levels.

Chennai Petroleum --Last Close: 57.00 | Support: 50, 39 | Resistance: 60, 80

Trading Range -- The scrip opened at 54.65, moved up to an intra-day high of 57.45, declined to an intra-day low of 54.60 and closed at 57.00.

Review/Outlook -- The scrip has reflected strength by giving closing above a supply line and with the oscillators looking better, further upside seems possible.

Hughes Software --Last Close: 297.10 | Support: 293, 266 | Resistance: 320, 367

Trading Range -- The scrip opened at 296.00, moved up to an intra-day high of 299.80, declined to an intra-day low of 288.00 and closed at 297.10.

Review/Outlook -- The scrip has reflected strength by sustaining its positive momentum and with the oscillators signalling a buy, a further upside cannot be ruled out.

Gujarat Ambuja --Last Close: 213.05 | Support: 206, 189 | Resistance: 223, 263

Trading Range -- The scrip opened at 203.00, moved up to an intra-day high of 214.90, declined to an intra-day low of 203.00 and closed at 213.05.

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.

HDFC --Last Close: 419.30 | Support: 379, 345 | Resistance: 425, 500

Trading Range -- The scrip opened at 408.50, moved up to an intra-day high of 423.00, declined to an intra-day low of 405.05 and closed at 419.30.

Review/Outlook -- The scrip is on the verge of giving an upward breakout from a consolidation phase and with the indicators looking strong, a further upside seems to be on the cards.

Stock Track

Scrip Support Last Close Resistance Trend ACC 175, 166 178.55 188, 203 Sd HLL 163, 155 169.70 172, 183 Tu INFOSYS 3468, 2985 3513.20 3977, 4360 Tu ITC 729, 665 734.70 759, 802 Sd MTNL 103, 85 107.85 115, 124 Sd RIL 345, 324 348.85 374, 407 Tu SATYAM 173, 149 193.35 199, 224 Tu SBI 415, 380 425.80 450, 488 Sd TELCO 215, 199 222.55 232, 260 Sd TISCO 189, 175 197.80 201, 220 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