Indian markets are expected to open in the red tracking the SGX Nifty and weak Asian markets, said Angel Broking in its report. ''The trend deciding level for the day is 26,334 / 7,988 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 26,453-26,624 / 8,027-8,083 levels. However, if Nifty trades below 26,334 / 7,988 levels for the first half-an-hour of trade then it may correct towards 26,045-26,164 / 7,932-7,892 levels,'' it added.
US markets closed negative led by renewed concerns about the Chinese economy after a report said the Chinese government has decided to abandon attempts to boost the stock market through large-scale share purchases.
European markets too ended lower led by the concerns over China. The snap elections in Greece and the likelihood of a near-term U.S. interest rate hike also weighed on investor sentiment.
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