The market has cooled off just a bit to end the day in negative territory. Banks staged a recovery of sorts, so did textiles while PSUs were once again back in the reckoning but it was pharma which stole the show so to speak.

IT remained subdued while volume dipped a tad -- the undertone was mixed.

Sensex -- Last Close: 3181.97 | Support: 3110, 3007 | Resistance: 3210, 3320

Trading Range -- The Sensex opened at 3212.99, moved up to an intra-day high of 3214.33, declined to an intra-day low of 3176.77 and closed at 3181.97.

Review/Outlook -- The Sensex has reflected indecision by staying within the previous days trading range, heightening the chances of a range bound movement today.

BHEL -- Last Close: 253.40 | Support: 247, 234 | Resistance: 268, 282

Trading Range -- The scrip opened at 258.00, moved up to an intra-day high of 260.00, declined to an intra-day low of 251.50 and closed at 253.40.

Review/Outlook -- The scrip has slipped below its distribution pattern and with the oscillators looking weak, a further downside seems possible.

HPCL -- Last Close: 313.70 | Support: 303, 290 | Resistance: 315, 329

Trading Range -- The scrip opened at 310.50, moved up to an intra-day high of 315.35, declined to an intra-day low of 305.30 and closed at 313.70.

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

MRF -- Last Close: 1260.95 | Support: 1250, 1150 | Resistance: 1330, 1500

Trading Range -- The scrip opened at 1300.00, moved up to an intra-day high of 1300.00, declined to an intra-day low of 1251.05 and closed at 1260.95.

Review/Outlook -- The scrip has breached a short term demand line and with the oscillators looking negative, further depreciation seems to be on the cards.

Saw Pipes -- Last Close: 113.30 | Support: 111, 100 | Resistance: 119, 132

Trading Range -- The scrip opened at 101.00, moved up to an intra-day high of 114.50, declined to an intra-day low of 099.60 and closed at 113.30.

Review/Outlook -- The scrip has bounced back sharply from its intra-day lows and also closed above the 10 day average while a further upside seems to be on the cards.

Stock Track

Scrip Support Last Close Resistance Trend ACC 148, 143 148.10 155, 166 Up HLL 155, 141 156.10 163, 172 Up INFOSYS 2405, 1897 2721.10 2985, 3468 Tu ITC 665, 592 683.00 729, 802 Sd MTNL 95, 85 98.75 103, 115 Sd RIL 269, 242 291.90 302, 324 Up SATYAM 173, 149 173.95 199, 224 Tu SBI 333, 314 343.50 358, 380 Sd TELCO 168, 155 172.10 179, 186 Sd TISCO 150, 139 155.50 166, 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