The index has risen from 4,195 to 4,333 points over the last two sessions, which translates into a gain of 138 points, or roughly a little over 3 per cent. On Monday, I had cautioned about the possibility of getting locked into scrips at higher prices if one was unmindful of the intra-day volatility. This indeed happened in a few counters like Gujarat Ambuja. The scrip rose to Rs 349 and retracted to close at Rs 334. The low for the day was Rs 324.

The SBI counter faced resistance as written on Monday in the Trader's Choice column. And take a look at what happened at the HLL counter. So, my caution on Monday did seem worthwhile. Telco, Tisco and ITC too retracted, unable to find the momentum.

But these incidences should not make you blind to themarket potential. The Sensex has crossed an important resistance level at 4,328 points. Having cleared this, it can now move up.

And looking over individual scrips in the Sensex list, a number of scrips have the potential to move up. They will move up despite the gains already made. That is because they will be breaking the technical resistance level and enter into new territory.

Such a breakout is bound to give impetus to the Sensex's northward momentum. While the daily stochastic is just entering the overbought zone, the RSI indicator shows the potential for the index to rise further. In short, the bull run is on and could strengthen further on Wednesday.