The Sensex may open in the positive zone but soon slip into the negative zone following persistent selling pressure at higher levels. The Asian markets too are hovering in the negative zone which may play on the market sentiment.The Hang Seng had dropped over 200 points. However, the Nikkei, Kospi, Shanghai and Striat Times are down marginally while the Taiwan index has dropped 2% (134 points). On the upside, the Sensex is likely to face resistance around 11,505-11,515-11,530 levels. On the downside, the index has support around 11,430-11,415-11,405 levels.Market analyst Shah the market is witnessing selling pressure at higher levels. However, if the Sensex is able to cross 11,560, the upmove may then gain momentum. Or else one may see some downside.The downside target for the index is around 11,330 to 11,200 levels.He adds that stock specific action in mid-cap stocks is likely to continue.
