Anand Rathi: Sentiment is cautiously optimistic

According to Anand Rathi, the market sentiment is expected to remain that of cautiously optimistic.

A strong come back from the bull side if accompanied with good volumes and a positive broader market sentiments would be the deciding factor for the market trend today.

On the technical front, the broking firm feels that the indices are trading above the short-term moving averages, which has bullish implications.

Sensex (Nifty) face resistance at 10950 (3200) and support at 10700 (3100) levels.

Breach of these resistance levels will have bullish implications and this in turn would open up the possibility of a further rise.