Markets Likely to Open in Dreadful Field

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Indian equity cash markets are more likely to open with marginal losses on Thursday tracking muted cues from Asian markets.The developments on SGX Nifty counsel Nifty it set to open with modest loss of 20 points at 9,927.

Nifty50 index has so far retraced 50% of its fall and now, going forward, the level of 9,990 is a key resistance level as 61.8% is placed at this level. On the downside, supports are viewed at 9,880 and 9,850.
Back home, Indian markets prolonged their achieve for fourth consecutive trading session on Wednesday after the RBI kept the policy repo rate unchanged. On the end, the BSE Sensex gained 174 points to complete at 31,672 and the Nifty 50 index climbed 55 factors to settle above the 9,900-mark. The BSE Mid-Cap index brought 0.39% and the BSE Small-Cap index rose 0.79%.
The US markets eked out modest beneficial properties on Wednesday, extending their up to date streak of features that’s taking all major benchmarks to new record closing highs. The Dow Jones Industrial moderate inched up 20 points to 22,661.64, the Nasdaq Composite Index gained 3 points to 6,535 and the S&P 500 crept up 3 points to 2,538.
Equity cash market in Asia began the session on muted notice with Japan’s Nikkei 225 trading with positive factors of 2 points. The markets in Hong Kong and China were closed for holidays.
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