Indian markets are likely to open on a negative note after witnessing some profit
taking in the previous trading session. Negative SGX Nifty also indicates trend for
the day could be negative.
The US markets remained in a narrow range for the day and finally closed on a
negative note. While a drop in crude oil prices generated some negative sentiment
general profit taking pulled the indices down for the day. It seems traders were not
reluctant to take big positions ahead of the monthly job data to be published this
Friday.
European markets also remained lackluster on Wednesday but ended the day with
marginal gain. Indian markets remained volatile during Wednesday and closed on
a weak note. We believe further direction of the Indian markets will be decided by
the states assembly elections.
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