The benchmark indices ended positively after three days of losing streak. The BSE Sensex ended 82 points higher at 14,957 after swinging in the range of 15,022?14,620. The Nifty gained 33 points to end at 4,517. Among the broader indices ? the CNX midcap index gained 1.1 % while the BSE smallcap index rose 2.1 %. Buying was witnessed in banking, capital goods, power and metal stocks.

After three days of consolidation markets witnessed buying interest at lower levels. Today the market breadth also improved as buying was seen in the smallcap and midcap stocks. The intermediate trend is still intact unless nifty future breaks 4430 which we had mentioned in our yesterday's newsletter. But going forward one has to be cautious as the market leader Reliance Ind is under tremendous selling pressure, which going forward could spoil the party.

For intraday nifty can be bought with a stop? loss of 4470. Strong resistance is placed at 4545, if nifty maintains above this level then we could see 4640.

Sectorally banking, metal and power stocks are giving a strong resilience at lower levels and can be bought on dip with a short? term perspective.