Sachin Chandsarkar, senior dealer, Karvy Stock Broking, said that today stock market rested explosive because of short covering. NSE Nifty arose 50 points to 4,425, where nonstop selling pressure took place. Major performers comprise Titan Industries, Suzlon and Voltas.

Nifty based stocks saw less interest from dealers. There was no effort envisioned in stocks of Reliance Group. Because of good dispatch numbers by cement companies, buying was seen in ACC and Gujarat Ambuja.

Mr. Chandsarkar added that if stock market covers NSE Nifty resistance of 4,425 on Monday, it may reach novel highs or if it trades beneath Nifty support of 4,320, it may fall. If not, he says markets would deal in a range with an unconstructive preconception. It can either climb up or down by 100 points. Markets will also rely on worldwide indications. He is optimistic on cement and auto sector and expects Voltas and VSNL to trade well.

Ravinder Singh, technical analyst, JHP Securities also told that today stock market opened its eyes after gaining 200 points and then continued trading in a range. By reason of weak opening of European markets, selling pressure was seen in the Indian markets.

According to him, if market breaches the BSE Sensex tough support at 14,700 then it can decline to 13,900 to 14,000 levels, or else it will carry on trading in a range. BSE Sensex resistance level is 15,500. Real estate, banking and capital goods sector did well today. Mode of buying was changing every hour.

On Monday, stock markets may remain uneven and will go on to trade in a range. He anticipates realty, capital goods and mid-cap companies to perform on Monday.