After moving above the medium-term channel the Nifty has been exhibiting strength and it could test 3225 in the short term. On the downside there is a support at 3120. Any intra-day or near-term decline should see the index find support around 3120 and move up to test higher levels in the short term. Intra-day the Nifty could test its resistance at 3166 and a break above 3166 will see further intra-day strength in the market.
Tata Chemicals is range-bound between Rs 232 and Rs 260 with a positive bias. Bank of Baroda has a support at Rs 219 and it faces a resistance at Rs 240. Jet Airways is in the Rs 1,014-960 trading range with a positive bias. A break above the range will see the stock test Rs 1,057.
