The Sensex as expected moved in the narrow band of 15,700-16,000, and finally ended the day with a gain of 73 points at 15,904.
The global cues today are not so encouraging, with US markets ending in red and the Asian markets too are subdued. Hence, our markets may open on a weak to subdued note. Any pullback thereafter is likely to be met with stiff resistance at higher levels.
In the short-term, the Sensex needs to sustain above the 16,000-mark for any substantial gains. On the downside, a break below 15,670, could see the index slide to 15,350-15,150 levels.
The NSE Nifty is likely to face resistance around 4,730-4,750, while find support around 4,660-4,640.
