Burroughs went up from Rs 730 to Rs 785, on top of its rise from Rs 688 level on Monday. Another pharma scrip, E Merck, went up from Rs 447 to Rs 470 on top of its rise from Rs 422 on Monday. Wockhardt rose to Rs 344 from Rs 321; this rise comes on top of its rise from the level of Rs 302. Also there were other scrips which could did not yield to the overallselling pressure. BSES for example, held on to its toehold at Rs 153, and Castrol held on to Rs 800. Ceat and Cochin too joined this club. However, Zee Telefilms, which had prepared the ground for moving up collapsed from Rs 623 to Rs 573. The ability of these scrips to hold on to their ground makes them good candiate for focussing on Wednesday.

On the other hand the bearish mood of the market did not deter investors from entering in volume in select scrips, flaring up their prices. Hotel scrips were not too badly affected by the bearish sentiment. Though EIH had a high intra-day fluctuation, Indian Hotel was holding its ground. Cadbury too went up from Rs 484 to Rs 505. But Colgate with a slightly similar profile failed to move up. Carrier Aircon leapt to Rs 239 only to revert to Rs 227. ACC failed to take support at Rs 1123, and has now turned weak. Bank of India has firmed up. For the Sensex, 3207 is the established base line.

There is some more scope left for downslide slip in some of the Sensexscrips. So you need to see if the Sensex takes support at 3207 or higher. For the Sensex to firm up, there is need for a change in market sentiment for the better.