The markets have displayed considerable volatility in the last two days and ended on a flat note. The entire move fails to give a clear direction in the near-term. The trend may be clear only after the Union Budget on Monday.
Today, the Sensex is likely to find support around 14,550-14,510-14,475, which the index may face resistance around 14,770-14,805-14,840.
With the trend getting narrower in the last three days, Tuesday (487 points), Wednesday (372 points) and Thursday (295 points), the probability of a breakout gets higher in the coming days.
Today, in case the index slips below 14,470 it may then see accelerated downmove up to 14,300-level. On the upside, if the index crosses 14,840, then the index may even spike up above the 15,000-mark.
The Nifty may find support around 4,310-4,300-4,290, while face resistance around 4,385-4,395-4,410.