The market has retreated after a bright start and continued to falter right throughout (till the close).

Most sectors witnessed varied amounts of selling pressure (read as profit taking) and even the robust ones like capital goods and PSUs took some beating. The undertone was subdued.

Sensex -- Last Close: 3081.94 | Support: 3007, 2922 | Resistance: 3110, 3210

Trading Range -- The Sensex opened at 3103.56, moved up to an intra-day high of 3118.58, declined to an intra-day low of 3076.99 and closed at 3081.94.

Review/Outlook -- The Sensex has been unable to sustain itself at higher levels which has resulted in a downward "key" reversal (bearish intra-day pattern). An intra-day downside below the 3076 level seems to be on the cards.

Bajaj Auto -- Last Close: 495.25 | Support: 472, 433 | Resistance: 504, 545

Trading Range -- The scrip opened at 492.90, moved up to an intra-day high of 497.00, declined to an intra-day low of 489.00 and closed at 495.25.

Review/Outlook -- The scrip has been making steady progress and continues to gain ground while a further upside seems possible.

Aurobindo Pharma -- Last Close: 288.75 | Support: 280, 260 | Resistance: 297, 317

Trading Range -- The scrip opened at 274.20, moved up to an intra-day high of 292.00, declined to an intra-day low of 273.00 and closed at 288.75.

Review/Outlook -- The scrip has reflected short term strength by posting a 22 month high and with the oscillators looking firm, a further upside cannot be ruled out.

BHEL -- Last Close: 257.25 | Support: 247, 234 | Resistance: 268, 282

Trading Range -- The scrip opened at 266.00, moved up to an intra-day high of 267.00, declined to an intra-day low of 256.60 and closed at 257.25.

Review/Outlook -- The scrip has come a cropper at higher levels; the ensuing decline has seen a closing in negative territory while further depreciation seems to be on the cards.

Siemens -- Last Close: 355.05 | Support: 344, 325 | Resistance: 368, 397

Trading Range -- The scrip opened at 365.00, moved up to an intra-day high of 374.00, declined to an intra-day low of 355.00 and closed at 355.05.

Review/Outlook -- The scrip has reflected weakness by giving a bearish closing and with the oscillators looking shaky, a further downside seems to be on the cards.

Stock Track

Scrip Support Last Close Resistance Trend ACC 135, 127 140.80 143, 148 Up HLL 141, 127 153.30 155, 163 Up INFOSYS 2405, 1897 2605.20 2985, 3468 Dt ITC 665, 592 696.40 729, 802 Sd MTNL 85, 63 94.05 95, 103 Td RIL 269, 242 280.55 302, 324 Tu SATYAM 149, 113 156.50 173, 199 Td SBI 333, 314 338.40 358, 380 Up TELCO 155, 148 167.75 168, 186 Sd TISCO 139, 131 142.35 150, 166 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