The Indian market is expected to open in the red today, mirroring negative opening trades in the SGX Nifty and mixed opening in the Asian markets. After moving notably higher over the course of Tuesday's session, US stocks turned in a relatively lackluster performance during trading on Wednesday, amid uncertainty about the near-term outlook for the markets, following recent strength. The majority of the European markets ended Wednesday's trading session in negative territory.
The markets were up in early trade, adding to the strong rally of the previous session. The better-than-expected private sector employment data released in the afternoon also provided support. However, those early gains began to erode in late trading. Investors will watch out for Thursday's announcement from the ECB, as well as the US jobs report on Friday. Meanwhile, Indian shares rose on Wednesday, mirroring strong global cues, with upbeat economic data from the United States and continued hopes for easy monetary policy in Japan and elsewhere underpinning sentiment.
Markets Today-
The trend deciding level for the day is 19,247/5,814 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 19,299 -19,345/5,833-5,848 levels. However, if Nifty trades below 19,247/ 5,814 levels for the first half-an-hour of trade then it may correct up to 19,201-19,149/5,800-5,780 levels.
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