The Sensex yesterday tanked heavily on the back of weak global cues. However, the global cues are positive and the index is likely to bounce back in opening trades.
The index has a near support at 9,020 as against its yesterday's low of 9,049, as long as the index stays above 9,020 this week, the index is likely to attempt a pull back in due course. However, if the index breaks the 9,020 support level, then it may slip to 8,725.
Today, the Sensex is likely to face resistance around 9,190-9,225-9,260, while support on the downside could be around 8,950-8,910-8,870.
The NSE Nifty is likely to face resistance around 2,810-2,825-2,835, while support on the downside will be around 2,725-2,710-2,695.