The market opened on a strongly bullish note at 4851, some 68 points over Friday's close of 4783. The market had been in a bearish mood in the last two days of the previous week and came down from 4977 to a close of 4783, while posting a low of 4756.

The bullish mood lifted the index to an intra day high of 4912. It was a day marked with high movement up and down. After dipping to 4766, the index rose again to 4850. But in the last half an hour of trading, the index came down to close at 4816.

The stochastic indicator is yet to trigger a buy signal. But it is in the oversold region and some more firmness in prices could end up triggering a buy signal.

The trading during the day was marked by narrow movement in most of the scrips. The bullish mood also saw some scrips like Nicholas Piramal opening on the upper side but coming down later.

But the broad downside reaction in the later part of the day did not stop several scrips which ended up closing distinctly higher. Several Tata scrips were in this list. Steel scrips were looking firm, including Sail. In the two wheeler segment TVS Suzuki was strongly bullish. ABB could not sustain the day's rise, but ended up still bullish. Pharma scrips were under reaction. Bhel held on to the upper region to which it had moved up last week.

The market is acting pretty selectively. HLL ended up firm after dipping. HIndalco continues to be week. Software stocks are weak. Smithkline Co. saw a dip, and should worry those who plan to enter HLL.

Cement scrips are facing a resistance to further northward journey. This is but natural since they have gained quite some in the last few day. The market undertone is certainly bullish, but prospects are mixed for different segments and scrips.