The market has staged a smart recovery to end in positive territory. Banks were back in contention, capital goods registered sharp gains, consumer durables, FMCG remained under pressure while pharma, IT and PSUs staged a recovery of sorts.

Volume dipped sharply (read as turnover) while the undertone was hopeful.

Sensex -- Last Close: 3314.60 | Support: 3210, 3110 | Resistance: 3320, 3400

Trading Range -- The Sensex opened at 3289.36, moved up to an intra-day high of 3327.61, declined to an intra-day low of 3287.72 and closed at 3314.60.

Review/Outlook -- The Sensex recovery has been mired by doubt due to extremely low volume while it has remained within the previous day's trading range. A closing above the 3350 level is a must if the market has to continue its upmove.

ABB -- Last Close: 378.80 | Support: 362, 350 | Resistance: 380, 414

Trading Range -- The scrip opened at 363.00, moved up to an intra-day high of 395.00, declined to an intra-day low of 362.55 and closed at 378.80.

Review/Outlook -- The scrip is in an intermediate uptrend and with the oscillators looking strong, a further upside seems possible.

Aventis Pharma -- Last Close: 333.80 | Support: 330, 305 | Resistance: 348, 365

Trading Range -- The scrip opened at 330.00, moved up to an intra-day high of 336.00, declined to an intra-day low of 327.00 and closed at 333.80.

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

Siemens -- Last Close: 378.95 | Support: 368, 344 | Resistance: 397, 422

Trading Range -- The scrip opened at 360.05, moved up to an intra-day high of 384.00, declined to an intra-day low of 360.05 and closed at 378.95.

Review/Outlook -- The scrip has reflected strength by posting a 34 month high and with the oscillators looking positive, further appreciation seems to be on the cards.

Tata Tea -- Last Close: 225.35 | Support: 224, 199 | Resistance: 236, 254

Trading Range -- The scrip opened at 229.70, moved up to an intra-day high of 229.70, declined to an intra-day low of 225.00 and closed at 225.35.

Review/Outlook -- The scrip has reflected weakness by giving a "black" candle (bearish intra-day pattern) while a further downside seems to be on the cards.

Stock Track

Scrip Support Last Close Resistance Trend ACC 143, 135 147.65 148, 155 Up HLL 163, 155 169.90 172, 183 Up INFOSYS 2405, 1897 2934.65 2985, 3468 Tu ITC 665, 592 700.65 729, 802 Tu MTNL 95, 85 98.60 103, 115 Sd RIL 302, 269 307.65 324, 345 Sd SATYAM 173, 149 176.65 199, 224 Tu SBI 333, 314 355.15 358, 380 Sd TELCO 179, 168 180.40 186, 199 Up TISCO 150, 139 150.90 166, 175 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