The Sensex exhibited weakness in opening trades yesterday, but however recovered smartly and hovered in the positive zone for most of the trading day. Late volatility not withstanding, the index managed to end in green with a gain of 60-odd points.
Today the global cues are negative hence the Sensex is likely to open on a negative note. One should watch the 14,850-level closely for the day's trend. As long as the index stays above 14,850, the index may move up to 14,940. In case the index rebounds, then it may look to spurt up to 15,210.
However, in case the index breaks below 14,850, then it is likely to test it's crucial support of 14,700 - which is the lower end of the expected trading band in the short-term.
The NSE Nifty may find support around 4,430-4,415-4,400, while on the upside the index is likely to face resistance around 4,515-4,525-4,540.