The S&P 500, which covers a much broader span of scrips posted a gain of over 8 points. It closed at 776.87 compared to the previous close of 768.43. The Nifty posted a gain of 22 points closing at 1178.95 compared to the previous close of 1156.65.

And, if you need more confirmation, the BSE 100 closed at 1760.13 compared to the previous close of 1744.25 posting a gain of 16 points, almost one per cent gain. The BSE 200 too ended on a positive note. It closed at 400.64 in contrast to the previous close of 397.04.

As to the FII interest, the BSE Dollex closed at 155.09 gaining over the previous close of 153.69. In the same vein the S&P Defty closed at 917.30 posting animpressive gain over the previous close of 908.15.

For the Sensex the daily stochastic is in the overbought zone, but it is still in postive territory, indicating a buy signal. The RSI indicator has been sailing closely above its trigger line, which would indicate that the signals continue to be right for long term buying.

Apart from these technical indications, the market exhibited a mixed trend. Wherever scrip values had gone down on Monday, they came up from down under to close level with Monday's opening and with volume buying. At other counters, scrips made a small but sure way ahead.

The Sensex could draw strength on Wednesday from Bhel, Glaxo, ICICI, Infosys, HLL, NIIT, Ranbaxy and SBI. Profit taking might pull down the index at Reliance, Gujarat Ambuja, ACC and Larsen. There are some scrips, which are on the wait mode. These are HPCL, ITC, Hindalco and few more.

Wednesday being the first day of the NSE trading, might give a slight push to stock prices. Surely volume pick up has been seentoday. It would appear that speculative and institutional purchase has returned.