The sentiment for tech stocks also remained positive. Dig Equipment, SSI, and Silverline managed to gain significantly. The sentiment is very strong, and the trend is likely to continue. Both old as well new economy stocks continue to attract buying.

For Sensex, the level of 4230 points is an important support and unless this level is broken, the outlook will remain positive. Among the new economy stocks, Infosys appears on a good wicket. The stock has a resistance at Rs 6,900 but the outlook is likley to improve drastically above this level.

Satyam Comp also attracted buying interest, and the position will improve further above Rs 428. Zee Tele however does not fit into the Satyam and Infosys league. The position will show an improvement above Rs 263.HLL remained dull for major part of the day. A bounce is not ruled out.

Reliance closed in resistance-free area and the outlook remains positive. RPL will also show further improvement above Rs 64.50. SBI has also closed above all short-term hurdles and the uptrend may gather momentum.

The position of Tisco, MTNL and Bhel is equally impressive. In case of Tisco, a minor hurdle exists at Rs 146. Bhel has a minor resistance at Rs 179.

In case of MTNL, major hurdle is only at around Rs 260. ITC may also show an improvement. The uptrend will gather momentum above Rs 930. The performance of cement counters was also impressive. L&T and ACC did very well and the trend is likely to continue. Other cement stocks are also expected to do well.

Overall, the sentiment has shown a further improvement and the trend is likely to continue in old economy for the time being. As for new economy stocks, few stocks have shown a smart improvement and others are also expected to participate in the near future. Stocks like Cipla, Grasim, Infosys, Tisco, Wipro, SSI, Silverline, Raymond, RPL, Reliance, Tata Tea, L&T, ITC and ABB appear favourable for long positions.