Previous week, the Sensex closed on a weak note and had indicated that it would remain dull at least in the first part of the week. In fact, considering previous's close, the jump of this degree has come as a big surprise. The jump has managed to change the short-term picture and perception of the market.

The Sensex closed at 3401 points on Friday, surpassing its immediate top of 3305 points. Not only this, it has also formed a higher bottom at 3089 points. In the process, it has broken its 12-week falling trend line. On the other hand, this week's low as well as the high were higher than previous week's low and high, respectively.

As far as the oscillators are concerned, the 21-day RSI as well as the medium term MACD have turned positive and are in bullish mode. All these factor are nothing but pointers of abullish momentum. The latest jump clearly suggest that the short-term trend has turned positive.

These changes indicate that Sensex is likely to remain firm in the next few days. Though a decline is not ruled-out, the fall is expected to be marginal in that case. On the lower side, the Sensex is expected to get a support at around 3300 points and on the higher side, it should face a resistance around 3639 points.

If one were to take a look at the individual stocks, a large number of those are yet to show a rally. The stocks which are expected to do well in the next three-four days are ABB, Bajaj Auto, Balrampur Chini, Bank of Baroda, Bank of India, Bharat Forge, Bombay Dyeing, Britania, BSES, Carrier Aircon, Colgate, E.Merck, Esab, Finolex Cables, ICICI Banking, ICICI, Inox, ITC Bhadra, Pfizer, Reliance Capital, Reliance, Siemens, Tata Chemicals and Tisco. Traders already having an exposure in these stocks can remain invested.

For the investors, stocks like ITC Bhadra, E Merck, Bank of India, ICICIBanking, Britannia, Inox, Reliance Capital and Reliance can bring attractive returns in the short-run.

However, there are stocks which can witness a selling pressure at higher levels. Apollo Tyres, Asian Paints, M&M, MTNL, Sesa Goa, Smithkline Beecham Pharma, Telco and Zee Telefilms feature in this list.