Pre-market: Bias is negative

The markets are likely to open on a flat note amid mixed cues from the global markets. Following yesterday's downward breakout the bias is now clearly negative for the short-term.

The Sensex, as mentioned in the weekly update, is now likely to drift towards 16,200, and then may be further down to 15,800.

Today, the index is likely to face resistance around 17,015-17,100. On the down side, the index may attempt to take support around 16,735-16,650.

The Nifty is likely to face resistance around 5,075-5,100, while find support around 4,990-4,965.