Inflation takes its toll

WEEKLY TECHNICAL ANALYSIS

Sensex

Nifty

R3

14755

4235

R2

14715

4225

R1

14675

4215

Close

14539

4187

S1

14405

4160

S2

14360

4150

S3

14320

4140

S-Support level
R-Resistance level

 Going forward, the Sensex needs to cross the 14,725 level in order to keep the upmove intact.  On the other hand, sustained stay below 14,480, could see the index lose another 400 points.  The Sensex is likely to face resistance around 14,675-14,715-14,755 levels, while the index may find support around 14,405-14,360-14,320.  The Nifty may face resistance around 4215-4225-4235, while the index is likely to find support around 4160-4150-4140.