Technical Analyst, Vijay Bhambwani said that the stock markets on Tuesday belled the day on a pessimistic note, and closed with losses, discounting the overseas signals and the credit plan declaration in the bargain.

The 30-share-index BSE Sensex closed with approx 0.75 % losses while the banking and midcap stocks dropped sharply owing to bull relaxing.

The overall breadth of the stock remained negative as the BSE & NSE shared advance decline ratio stood at 1750 : 1989. The breadth’s capitalization also remained unenthusiastic as the BSE & NSE combined figures were Rs 7417 Crs : Rs 12580 Crs.

The indices have closed in the upper half of the intraday range, the downbeat market internals and the higher volumes pointing a possible sharing. The Nifty failed to mark its closure above it's 200 SMA finally as the confidence levels were inadequate.

Today’s session is expected to see a range of 3440 on progressions and 3300 on declinations, under which the 3250 is possible.

The upbeat turn will be at the 3375 levels above which the viewpoint will be hopeful and the bearish turn will be at the 3350 level lower than which the bears may hang on to their initiative.

The bulls will have to observe the volumes and open interest intensely above the 3375 levels.

The market internals point out a higher turnover because of the volatility. The number of trades remained higher and the average ticket size per trade was lower, pointing an imperfect buying bias.

The capitalization of the stock market was lower in proportion to a downtick session.