The overall sentiment was positive and cement stocks remained the star performers. ACC, Grasim, L&T, Century and India Cement recorded impressive gains. For index, the close has not been far away from its resistance of 4332 points. While the next major hurdle is only at 4790 points, it may also face resistance around 4600 points. It has been seen that, one by one, all the heavyweights have been providing help to the index. And this trend may continue. In the coming days, Bhel, ITC and Infosys may give a supporting hand to the Sensex.

Bhel, which did not participate in the last three days' rise, may contribute in the near future. The stock has been forming higher bottoms. It has a resistance at around Rs 174. ITC too moved in a narrow range for the last three days. It has a base at Rs 905 and the uptrend will gather momentum above Rs 925. Infosys has also shown a firm close but in this case, performance on the Nasdaq will also have its impact. The level of Rs 6,700 should be used as stop-loss for long positions. Satyam Comp has shown a firm close. The level of Rs 407 should be used as stop-loss for long positions.

Immediate resistance for the counter exists at Rs 430. Zee Tele has shown a corrective move on Wednesday. One can expect a sideways movement in the near future.

The cement stocks did very well and the undertone has improved further. The outlook continues to be positive for these counters. In case of Tisco, the uptrend will gather momentum above Rs 133. As for Tata Tea, the position will improve above Rs 292. The level of Rs 276 should be used as stop-loss for long positions. For Telco, the level of Rs 93 should be used as a reference point for long positions.

SBI remained dull on Wednesday but the medium-term outlook remains positive for the counter. The outlook for Reliance and Reliance Petro also remains positive. HLL may however show a sideways movement. It has a good base at Rs 196. The sentiment has shown a smart improvement in last couple of days, and the trend is likely to continue. Counters like Cipla, ITC, Bhel and Tisco appear favourable for long positions.