The higher opening gave confidence to the traders, the closing of the NSE week did limit the extent to which values could move up. This in turn led to the intra day high to 4286, which was just level with the Monday's top. That the low for the day at 4235.37 was a good 27 points higher than the previous low of 4208.56, which reflected that marketmen were feeling confidant about the scope on the upside. The market closed with the Sensex at 4280.96, gaining a hefty 70 points in theprocess.

The Sensex continues to be comfortably above the uptrends support line. The gain to the index has come from select stocks. Bajaj Auto gained 1.79 per cent. Its recovery was helped by the fact that the scrip had reacted over the last week and had been resting on its support line. In the case of HLL, the scrip was looking to the market sentiment, as it had already been consolidating at the lower level. The scrip gained 2.25 per cent. At Hindalco, the scrip failed to react further to Monday's volatile performance. It posted a gain of 2.25 per cent and helped the index move up. Hindalco maintained its position at NSE on a more sustained level over the last three days. This could well indicate investment for taking delivery in a large chunk. ITC's gain of 2.17 per cent was just the reversal of Monday's price band. The scrip just opened lower and closed higher. In fact, that marked the pattern at several counters, including Reliance Industries, State Bank and Steel Authority of India.

Over the last tensessions, Sensex has been moving through not a very confident pattern. There have been repeated threats of the market moving down. However, Tuesday's market behaviour does reveal that operators have taken position on the expectation of market moving up further. Several counters have been consolidating on the lower levels for the last 8-10 sessions. They can now move up.