Support for Nifty seen at 1120

Technicals

 The Bombay Stock Exchange (BSE) Sensex ended Wednesday at 3620.79 (down 8.89 points) and the National Stock Exchange (NSE) S&P CNX Nifty closed at 1141.05 (4.85 points lower).

 The market breadth was negative as the ratio of advances to declines on the two exchanges combined stood at 646:2060.

 Traded volume on the BSE was Rs 1,322 crore, while it was twice that at Rs 2,650 crore on the NSE.

 The capitalisation of the market breadth was also negative as the numbers were Rs 1,474 crore: Rs 2,070 crore on the two exchanges.

 The lower traded volumes are indicating the absence of retail participants.

 The nervousness in the undertone can be guaged from the market breadth in numerical terms.

 The outlook for Thursday