The market gained on Monday marginally, but it has broken an important resistance level 5310/17790 during the day
with a rise in volumes, but hardly any frontline stock has broken the upward range. Like Reliance remained below
1125, ICICI BANK remained below 970, TATA STEEL also failed to breach 660 levels and SBIN failed at 2115. For further
genuine gains, we require break out in these stocks otherwise to sustain in the new territory will be difficult for the
market.
For the day, 5310 may again act as a major hurdle for the market and sustenance above, will lift the market to 5340
but failure to sustain above 5310 may again fail to encourage fresh traders to participate. On the downward side the
market has several supports at 5295, 5285, 5275 and 5260 that may slow down the pace of sell-off.
