The market on the whole, went through a consolidation process on Tuesday but ended the day on a positive note. With the new NSE week starting on Wednesday, the market is set to rise further.

The Sensex opened at 3094, some 13 points above the previous close of 3081. It moved up to post a high of 3104. This was below the previous high of 3133. The low for the day was at 3071, some 10 points lower than the previous low of 3081. At close the Sensex had risen to end the day at 3095 gaining 14 points day over day.

In the language of Japanese candlesticks, the Sensex has formed a Harami Bottom, which is a bullish signal. It is bullish considering the range of the Sensex movement over the last two days and also the fact that the index closedwith a gain.

In the daily charts the stochastics is still on positive territory and the RSI indicator is about to cut upwards its trigger line. On the weekly charts, both the stochastic and the RSI indicator are on the buy mode.

Glaxo lost 2.35 per cent but it could now bounce back. Bajaj Auto is somewhat weak and Gujarat Ambuja is plainly at a mischeivous point. Mahindra & Mahindra which had gone up briskly yielded to profit taking today. But at close it has come to rest on a trend support line and therefore may not pull the Sensex down further. On the other hand it could move up again. Arvind Mills has gone down 3.47 per cent on profit booking, but its recent record would caution you against short selling.

Zee Telefilms is finding it difficult to post any further gain. You may as book your profit here. TVS Suzuki may find support at Rs 499, but right now the mood is to book profit. Smithkline Pharma could now move up and Siemens offers a speculative option.