Early nervousness likely

Taking cues from the global markets, the Sensex is likely to open on a nervous note.

The index has a near support around 9885, if the support holds the index may attempt a pull back upto 10,180 levels.

On an upmove, the index is likely to counter resistance around 10,110-10,145-10,180 levels. On the downside, the index may take support around 9885-9850-9815 levels.

Market Outlook - analyst - Bharat Momaya

The Sensex yesterday once again crossed the 10,000-mark amid extreme volatilities.

I expect the uptrend to continue with more vigour and volatility. Wild zigzag movements seen in Sensex graph yesterday is likely to be repeated today as well. Overall, I expect the index to jump upward substantially.

FII's continued to buy, and were net buyers of shares worth Rs 660 crore as per SEBI Data on Friday. Expectations of better Q2 results should boost up the bullish sentiments.

Announcement by Reliance (RIL) on Haryana SEZ is encouraging. SEZ is a major foray of RIL into Infrastructure sector with the single largest investment of Rs 25000 crore. The company is expected to set up three SEZ's through SPV's. It is perhaps for the first time in the world that an agri-based SEZ is being set-up.