The market had been under pressure virtually from open to close and the weakness was prevalent across quite a few sectors. The capital goods and PSU sector held firm while pharma stocks took a beating. Scrip specific movements were witnessed, volume was better while the undertone was weak.

Sensex -- Last Close: 2961.60 | Support: 2922, 2826 | Resistance: 3007, 3110

Trading Range -- The Sensex opened at 2980.25, moved up to an intra-day high of 2989.23, declined to an intra-day low of 2953.42 and closed at 2961.60.

Review/Outlook -- The Sensex has reflected weakness only to end in negative territory. Despite intra-day support from the 2950 level a further intra-day decline cannot be ruled out.

Moser Baer -- Last Close: 287.40 | Support: 276, 253 | Resistance: 295, 309

Trading Range -- The scrip opened at 279.30, moved up to an intra-day high of 289.50, declined to an intra-day low of 274.00 and closed at 287.40.

Review/Outlook -- The scrip has given an upward 'bar' reversal (bearish intra-day pattern) and with the oscillators reflecting strength, a further upside seems possible.

Dr Reddy's Lab -- Last Close: 849.35 | Support: 849, 815 | Resistance: 880, 900

Trading Range -- The scrip opened at 880.00, moved up to an intra-day high of 880.00, declined to an intra-day low of 839.90 and closed at 849.35.

Review/Outlook -- The scrip has reflected weakness by giving a downward 'bar' reversal (bearish intra-day pattern), while a further downside cannot be ruled out.

Trent -- Last Close: 160.55 | Support: 160, 150 | Resistance: 168, 179

Trading Range -- The scrip opened at 156.15, moved up to an intra-day high of 161.25, declined to an intra-day low of 156.15 and closed at 160.55.

Review/Outlook -- The scrip has given an upward 'bar' reversal (bullish intra-day pattern) after taking support on the 55 day average - further appreciation seems to be on the cards.

Wipro -- Last Close: 902.70 | Support: 896, 841 | Resistance: 903, 935

Trading Range -- The scrip opened at 925.00, moved up to an intra-day high of 927.70, declined to an intra-day low of 901.25 and closed at 902.70.

Review/Outlook -- The scrip has reflected weakness by being unable to sustain at higher levels after facing resistance from the 10 day average while a further downside seems possible.

Stock Track

Scrip Support Last Close Resistance Trend ACC 127, 115 130.15 135, 143 Sd HLL 127, 111 138.75 141, 155 Sd INFOSYS 2405, 1897 2976.15 2985, 3468 Tu ITC 592, 541 661.00 665, 729 Sd MTNL 95, 85 99.25 103, 115  Tu RIL 242, 217 259.70 269, 302 Dt SATYAM 149, 113 170.15 173, 199 Tu SBI 276, 258 283.45 293, 314 Sd TELCO 148, 135 158.00 168, 186 Tu TISCO 131, 125 131.95 139, 150 Tu 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