The markets registered deep cuts yesterday amid global sell-off. The cues this morning too are on the negative side, hence the Sensex is likely to open on a negative note.
The index is close to its 14,700, which may get voilated in intra-day trades. However, one may see selective buying at the lower levels. The 14,700-mark has to be watched closely today, as the bulls are likely to attempt a pullback above this level, while the bears will have the upperhand below this level. Major supports below 14,700 exists at 14,415 and 14,115.
Today, the index may seek support around 14,475-14,515-14,450, on the upside the index is likely to face resistance around 15,000-15,055-15,120.
The NSE Nifty may face resistance around 4,465-4,490-4,515, while on the downside the index is likely to find support around 4,310-4,285-4,260.
