The global cues and market internals suggest a weak opening for the day. The Sensex may test its crucial support of 8,435 today. As mentioned in our weekly update, this level will be a crucial support for the whole month. In case, the index breaks 8,435, then the index is likely to drift towards 7,550 this month.
Today, the index may find support around 8,530-8,480-8,435, while face resistance around 8,685-8,705-8,730.
The NSE Nifty is likely to face resistance around 2,715-2,725-2,740, while support on the downside may be around 2,635-2,625-2,610.