Following Tuesday's breakout the markets yesterday opened on a positive note and rallied higher on the back of follow-up buying. The Sensex touched a high of 17,577, but pared gains towards the close. The BSE benchmark index finally ended with a gain of 107 points at 17,490.
The markets are in bull zone, and hence likely to target higher levels in the medium term perspective. Today, the index may face some resistance around 17,570-17,600, while seek support around 17,420-17,375. The index is likely to find significant support around 17,300 for the next two days.
The NSE Nifty moved in a range of 83 points, the index touched a high of 5,261 and finally settled with a gain of 34 points at 5,232.
Nifty may face resistance around 5,275-5,285, while seek support around 5,200-5,180.
