Pre-market: Sensex may open flat

The Sensex is likely to open on a flat note and may slip in morning trades owing to some follow-up selling. However, the index is near some strong support levels, hence a bounce back in late trades can be expected.

The index is likely to face resistance around 12,435-12,460-12,485 levels, while the support on the downside is around 12,270-12,250-12,220 levels.

According to market analyst Shah, action is likely to be in mid-cap stocks today. The Sensex is likely to move in a range of 12,300-12,500.

Stocks to watch today are Bombay Rayon, Sterlite and Jet Airways.