Mkt Outlook: Bullish trend may continue

The Sensex closed with a gain of 58 points at 13,091 on Thursday on the back of sustained buying in ONGC, Reliance and auto stocks like Maruti and Bajaj. Tech scrips were weak.

The global cues are muted - Dow dropped on Wal-Mart woes, high labour costs and low productivity gains. Crude is still below $59 per barrel, which gives some comfort for traders.

FII and domestic inflows continue to be robust with no let-up seen in the near future.

The first resistance for the Sensex is around 13,138, and the mood turns bullish if it stays above 13,167.

The first support is around 13,004, and a break below yesterday's low of 13,014 turns the mood bearish.