According to Anand Rathi, on the average front, the Indices are trading above the short-term moving averages and this has bullish implications.However Nifty faces resistance at around 3200 level and the Sensex at around 10950 levels. But Sensex and Nifty has supports at around 10,600 and 3100 level.Breach of these support levels will have bearish implications and this in turn would open up the possibility of a further fall.
