Sensex has support at 16,230 & 16,040:
``The Indian markets are expected to open flat on the back of subdued global cues. The domestic markets fell for the fourth straight session on Friday after government data showed that the industrial output in the country unexpectedly contracted in March by 3.5% from a year earlier compared with February`s annual 4.1% rise. The contraction was driven by a slump in the capital goods sector,`` said ICICIdirect. ``Weak global cues including stocks falling across Asia and Europe on weak economic data out of China and JP Morgan`s revelation of about a USD 2 billion trading loss added to the pessimism in the markets. The Sensex fell by 127.1 points or 0.8% to 16,293.0 while the Nifty fell to 4,928.9, down 36.8 points or 0.7%. The Sensex has supports at 16,230 and 16,040 and resistances at 16,450 and 16,530. The Nifty has supports at 4,905 and 4,878 and resistances at 4,980 and 5,020.`` Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
The benchmark Sensex fell by over 81 points to dip below 10k level in early trade on selling by funds in line with bearish global markets on Friday.