For the Sensex, the level of 4030 can be considered as an immediate support whereas the next base lies at 3960 points. The fall on the HLL counter showed a slowdown but major improvement is not expected from the current level. The level of Rs 200 will act as a major hurdle. The performance of Reliance and ITC also remained positive. ITC is close to its first major hurdle of Rs 880. The next major resistance for the stock is at around Rs 1040.

Reliance also improved but selling pressure is around the corner. L&T, ACC and Grasim remained firm and the uptrend is likely to continue for some more time. SBI, meanwhile, moved in a narrow range and a corrective move is not ruled out. MTNL also remained dull. The upmove may gather momentum above Rs 172. Tisco too showed a positive close. The uptrend may continue for some more time.

As for new economy stocks, Infosys' performance was impressive. However, the fall has shown a slowdown and the position will improve above Rs 7,330. For those who have a long position, the level of Rs 7,100 can be used as stop-loss.

Zee Tele, meanwhile, continued its uptrend. The stock is above its first resistance and the next major hurdle is at around Rs 320. In case of Satyam Comp, improvement is likely above Rs 352 level. It has a good base at Rs 340 which can be used as stop-loss. As for other tech stocks, there has been an improvement on Tuesday. Stocks like Wipro, HFCL, and Global Tele are likely to continue their uptrend. The old economy stocks are expected to show a mixed trend.