The outlook for the market appears positive especially when the Sensex is out of the four-day range of 4,120-4,187 points. With this, the level of 4120 can be considered as the first support level on the downside. The last support exits at 4,083 points. On the upper side, the Sensex has a minor resistance at 4285 points.

Among the pivotals, HLL has closed at its all-time high and the outlook is positive. ITC did not show any major activity on Friday. Unless the stock breaks the Rs 1,080 level, the outlook for the stock remains positive. Reliance and SBI showed good a move on Friday. On the upper side, Reliance may face a resistance at Rs 192, whereas the same for SBI is at Rs 268.

MTNL's move was surprising especially ifone consider Thursday's fall where it broke the trendline. Gains recorded on Friday just hints at a false break-out. Bhel has remained dull and a recovery may take place in the coming days. The same can be said about HPCL.

Among the Tata counters, Tisco reported huge buying on Friday. The outlook for the stock is positive. The stock may face a minor resistance at Rs 153, above this level the target of Rs 168 would not be difficult. Telco has also showed signs of consolidation and a recovery is most likely.

The outlook for Tata Chemicals is extremely bullish. The stock has shown a bullish close with a sharp jump in volumes. Tata Tea may also show a recovery. The same can be expected from ACC as it has bounced back from a level of Rs 164, which was its earlier support.

Among the software stocks, Pentafour Software reported huge buying which has directly given a boost to its technical position. The northbound journey on this counter is expected to accelerate in the coming days. Satyam Computers, however,would be attractive only above Rs 1280. Infosys Technologies may also show a rally.

Among the other specified stocks where a positive move is likely are: Bank of Baroda, Bank of India, BPL, Dabur, Dr.Reddys' Labs, EIH, GE Shipping, Hindustan Motors, M&M, Reckitt & Colman, and SKF Bearings.