Yesterday, the Sensex rallied to a high of 9,725, slipped to a low of 9,511, and finally ended with a gain of 64 points at 9,647.
As mentioned yesterday, the Sensex after having borken out of the resistance zone of 9,425-9,515, needs to sustain above these levels for a continued uptrend.
As and when the index breaks below the 9,425-mark, the index may then soon slip to 9,090, and further deeper to 8,725 in the coming days.
Today, the Sensex is likely to face resistance around 9,730-9,755-9,780, while support on the downside will be around 9,565-9,540-9,515.
The NSE Nifty is likely to face resistance around 2,960-2,965-2,975, while support on the downside will be around 2,910-2,900-2,895.
The Nifty yesterday closed above the 2,900-mark for the second day. The index needs to close in green today for a clear buy signal or atleast above 2,900 to keep the hopes alive. Failure to do so, could see the index slide to 2,670 in the coming days.