The market has forged ahead and registered sharp gains for another positive closing. Banks took a battering and gave up most of previous session's gains while PSUs also came under pressure.

Consumer durables took a hit while FMCG, pharma and select IT stocks sparkled. Volume was also better (read as turnover) while the undertone was mixed.

Sensex -- Last Close: 3262.20 | Support: 3210, 3110 | Resistance: 3320, 3400

Trading Range -- The Sensex opened at 3233.05, moved up to an intra-day high of 3274.45, declined to an intra-day low of 3233.05 and closed at 3262.20.

Review/Outlook -- The Sensex has extended its gains while it has reflected strength by moving up with a gap. An intra-day upside above the 3275 level seems to be possible while the trend remains up and intact.

ABB -- Last Close: 346.05 | Support: 330, 318 | Resistance: 350, 362

Trading Range -- The scrip opened at 340.00, moved up to an intra-day high of 347.00, declined to an intra-day low of 338.00 and closed at 346.05.

Review/Outlook -- The scrip has recovered sharply from its intra-day low and with the oscillators looking strong, a further upside seems possible.

Bata -- Last Close: 37.55 | Support: 33, 30 | Resistance: 39, 47

Trading Range -- The scrip opened at 38.35, moved up to an intra-day high of 38.35, declined to an intra-day low of 37.20 and closed at 37.55.

Review/Outlook -- The scrip has given a downward "key" reversal (bearish intra-day pattern) and with the oscillators signalling a sell, a further downside cannot be ruled out.

Bank of Baroda -- Last Close: 107.30 | Support: 106, 091 | Resistance: 115, 127

Trading Range -- The scrip opened at 110.90, moved up to an intra-day high of 116.90, declined to an intra-day low of 106.20 and closed at 107.30.

Review/Outlook -- The scrip has given a downward "bar" reversal (bearish intra-day pattern) and with the oscillators looking negative, further depreciation seems to be on the cards.

United Breweries -- Last Close: 20.95 | Support: 19, 16 | Resistance: 22, 28

Trading Range -- The scrip opened at 20.25, moved up to an intra-day high of 21.10, declined to an intra-day low of 19.60 and closed at 20.95.

Review/Outlook -- The scrip has reflected strength by giving an upward breakout from a consolidation pattern while a further upside seems to be on the cards.

Stock Track

Scrip Support Last Close Resistance Trend ACC 143, 135 146.55 148, 155 Up HLL 155, 141 160.40 163, 172 Up INFOSYS 2405, 1897 2857.35 2985, 3468 Tu ITC 665, 592 690.55 729, 802 Sd MTNL 95, 85 99.65 103, 115 Tu RIL 302, 269 311.60 324, 345 Up SATYAM 173, 149 178.80 199, 224 Tu SBI 333, 314 356.70 358, 380 Tu TELCO 179, 168 182.05 186, 199 Up TISCO 150, 139 159.20 166, 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