The market has forged ahead but with a difference; for a change, mainline stocks like HLL and Reliance led a bright day for the bourses.

The rally has spread across sectors with the most obvious omission being the IT sector, which was again a weak spot.

Volume dipped a tad, while the undertone was firm.

Sensex -- Last Close -- 3096.69 | Support -- 3007, 2922 | Resistance -- 3110, 3210

Trading Range -- The Sensex opened at 3051.30, moved up to an intra-day high of 3101.75, declined to an intra-day low of 3050.16 and closed at 3096.69.

Review/Outlook -- The Sensex has forged ahead on expected lines while it seems poised to perform a repeat encore today. It has closed displayed its bullish intentions by closing above the 55 day average yesterday.

Bajaj Auto -- Last Close -- 190.70 | Support -- 472, 433 | Resistance -- 504, 545

Trading Range -- The scrip opened at 485.00, moved up to an intra-day high of 495.45, declined to an intra-day low of 485.00 and closed at 490.70.

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

HLL -- Last Close -- 153.20 | Support -- 141, 127 | Resistance -- 155, 163

Trading Range -- The scrip opened at 151.00, moved up to an intra-day high of 153.85, declined to an intra-day low of 151.85 and closed at 153.20.

Review/Outlook -- The scrip has given an upward breakout from a consolidation pattern on the daily chart while a further upside cannot be ruled out.

BHEL -- Last Close -- 263.40 | Support -- 247, 234 | Resistance -- 268, 282

Trading Range -- The scrip opened at 259.90, moved up to an intra-day high of 265.50, declined to an intra-day low of 256.00 and closed at 263.40.

Review/Outlook -- The scrip has signalled a continuation of its uptrend by moving out of a consolidation phase while further appreciation seems to be on the cards.

L & T -- Last Close – 216.35 | Support – 207, 190  | Resistance – 221, 231

Trading Range – The scrip opened at 210.00, moved up to an intra-day high of 217.00, declined to an intra-day low of 209.20 and closed at 216.35.

Review/Outlook – The scrip has reflected strength by posting a 5 month high and with the oscillators looking positive, a further upside seems to be on the cards.

Stock Track

Scrip Support Last Close Resistance Trend ACC 135, 127 140.55 143, 148 Up HLL 141, 127 153.20 155, 163 Up INFOSYS 2405, 1897 2627.75 2985, 3468 Dt ITC 665, 592 688.65 729, 802 Sd MTNL 85, 63 93.65 95, 103 Td RIL 269, 242 279.95 302, 324 Tu SATYAM 149, 113 157.75 173, 199 Td SBI 333, 314 343.75 358, 380 Up TELCO 168, 148 173.15 186, 199 Up TISCO 139, 131 145.95 150, 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.