Pre-market: Positive start in the offing

The markets are likely to open on a positive note backed by good global cues. The US markets ended in green backed by improving economic data and the Asian markets too have started in the positive territory with the Hang Seng rallying as much as 2%.

Back home, it's been an extremely range-bound week so far. The Sensex has barely moved in range of 300-odd points. The week's low so far is 16,943, while the high has been 17,238. Last week's index high and low were 17,361 and 16,656, respectively.

Today, once above 17,265 the Sensex may attempt to cross 17,361. 17,265 would be the pivot level for bulls. On the negative side, the index needs to sustain 17,100-17,060 support range.

The Nifty as and when crosses 5,160, will try to get to its recent high of 5,182 which it missed by a point last week. On the down, side the index may find considerable support around 5,110-5,090.

Overall, unless the index gives breakout in either direction the markets may once again today display lacklustre-cum-rangebound movement.