A morning walk down Dalal Street | Wait for a breakout, Nifty may inch towards 11,141

The positive global sentiment, amid signs of an ebb in US-China trade war, and hopes of government measures to prop up the auto sector, helped equity benchmarks Sensex and Nifty end in the green on September 6.

However, on a weekly basis, Sensex fell 0.94 percent while Nifty retreated 0.70 percent, as concerns on the deteriorating health of domestic and global economy dented investors' risk appetite.

Data released last week showed that US job growth slowed in August, while retail hiring declined for the seventh straight month. Poor sets of macroeconomic data from major economies of the world have fanned hopes of government stimulus and rate cuts by central banks.

According to the pivot charts, the key support level is placed at 10,890.13, followed by 10,834.07. If the index starts moving upward, key resistance levels to watch out for are 10,979.63 and 11,013.07.

The Nifty Bank index closed at 27,247.90, up 1.22 percent on September 6. The important pivot level, which will act as crucial support for the index, is placed at 27,028.63, followed by 26,809.37. On the upside, key resistance levels are placed at 27,389.13 and 27,530.37.