Key Levels: Waiting for a breakout

The markets moved on expected line yesterday, with the Sensex finding support around Monday's low of 15,229. As mentioned yesterday as well, Monday's low would remain crucial for the remainder of the week, as the index may see a further slip to 15,140-15,000 levels in case a breach of the low.

The markets have been range-bound on the last two days; however volatility is likely to be higher in the next few couple of days owing to the derivatives expiry of the July series.

On the negative front, the index has made a identical high (15,463) on the last two days; the index needs to clear it today before the level becomes a short-term resistance.

Today, the Sensex is likely to face resistance around 15,420-15,470, while support on the downside, would be around 15,250-15,200.

The NSE Nifty may face resistance around 4,590-4,610. On the downside, the index may find support around to 4,540-4,520.