The market has come off sharply from its intra-day high to just about end in positive territory.

Banks, capital goods, consumer durables, pharma, IT and PSUs all ended on a negative note while FMCG ended marginally higher.

Volume registered an increase (read as turnover) while the undertone was bullish.

Sensex --Last Close: 3792.61 | Support: 3759, 3651 | Resistance: 3895, 4028

Trading Range -- The Sensex opened at 3796.53, moved up to an intra-day high of 3835.75, declined to an intra-day low of 3785.12 and closed at 3792.61.

Review/Outlook -- The Sensex has come off from its intra-day high on extremely high volume, which is a slight cause of concern for the near term. A range bound movement cannot be ruled out while intra-day weakness could come in below the 3785 level.

Hero Honda --Last Close: 265.80 | Support: 254, 235 | Resistance: 272, 311

Trading Range -- The scrip opened at 254.75, moved up to an intra-day high of 270.00, declined to an intra-day low of 251.50 and closed at 265.80.

Review/Outlook -- The scrip has reflected strength by posting a 11 month high and with the oscillators looking better, a further upside seems possible.

Adani Exports --Last Close: 182.10 | Support: 171, 160 | Resistance: 184, 195

Trading Range -- The scrip opened at 187.90, moved up to an intra-day high of 187.90, declined to an intra-day low of 182.00 and closed at 182.10.

Review/Outlook -- The scrip has reflected weakness by closing below a demand line and with the oscillators signalling a sell, a further downside cannot be ruled out.

BPCL --Last Close: 265.00 | Support: 249, 228 | Resistance: 272, 295

Trading Range -- The scrip opened at 270.00, moved up to an intra-day high of 273.50, declined to an intra-day low of 261.90 and closed at 265.00.

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

United Phosphorus --Last Close: 294.10 | Support: 279, 250 | Resistance: 320, 343

Trading Range -- The scrip opened at 292.00, moved up to an intra-day high of 299.20, declined to an intra-day low of 289.25 and closed at 294.10.

Review/Outlook -- The scrip has given an upward breakout from a consolidation phase and with the indicators looking strong, a further upside seems to be on the cards.

Stock Track

Scrip Support Last Close Resistance Trend ACC 188, 175 194.15 203, 219 Up HLL 163, 155 170.15 172, 183 Tu INFOSYS 3468, 2985 3593.30 3977, 4360 Tu ITC 665, 592 716.35 729, 759 Td MTNL 115, 103 115.05 124, 139 Tu RIL 345, 324 357.25 374, 407 Up SATYAM 199, 173 204.20 224, 253  Up SBI 415, 380 421.85 450, 488 Up TELCO 215, 199 225.65 232, 260 Up TISCO 201, 189 208.15 220, 231 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