Pre-market: Upmove may face resistance

Following a strong rally yesterday and slightly positive world markets, the Sensex is likely to open on a positive note. However, the upmove may face some resistance owing to the derivatives expirty tomorrow.

On the upside, the index is likely to face resistance around 10,470-10,485-10,505 levels. On the downside, the index has support around 10,360-10,345-10,330 levels.

According to market analyst Shah, the market trend has turned positive backed by strong Q1 numbers and the index could target 11,000-mark in the coming days.

"The Sensex is likely to find strong support around 10,250 levels in case of downside", says Shah.

Adding that, Japanese funds have resumed buying. NDTV and TV18 could be good investment bets at this moment. While IPCL, i-flex, UltraTech Cemco and Kesoram are his top trading picks for short term.