After opening the day on a negative note after a fall of 0.40% on the previous working day, the 30-share index, BSE Sensex recovered from day’s low and entered the positive terrain on the back of buying interest witnessed in select front line stocks.

Meanwhile, it also hit a high of 11,029.55.

Moreover, Reserve Bank of India (RBI) has slashed repo rate and reverse repo rate by 25 basis points each.

The stocks from FMCG, oil & gas and realty sector went up, while auto, banking, capital goods and metal stocks remained marginally down. 

In his report, Nirmal Bang has announced that the immediate short-term support for nifty is at 3,310 – 3,230 region and a fall below this level will put more pressure and nifty can decline upto 3,155 – 3,110 in the coming days.

The report also said that this could be the best level for the medium term investors to make entry.

Me. Bang also said that presently the stock markets are trading in a very tight range of 3300-3420, a strong move beyond these range on the either side will give an obvious route.

Sintex Industries, with strong balance sheet and huge cash balance is well Equipped to manage current challenging business Equipment. We estimates Sintex Industries to post net sales of 3300 crores and 4200 crores for FY09 and FY10 respectively, posting compounded growth rate of 40% for 4 years.

Nifty showed increased volatility around 3430 -3450 which happens to be the 200 DMA of the market and closed below this at 3384. Increasing volatility at this level is obvious as Nifty has rallied almost 1000 points from 2540 to 3510.

A consolidation can be seen around levels of 3150-3400 before market makes new highs.

Asian stocks declined, dragging the regional benchmark index from a three?