Indian markets are expected to open on a negative note tracking the SGX Nifty, according to Angel Broking. "The trend deciding level for the day is 27,413 / 8,303 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 27,678 - 28,168 / 8,379 - 8,522 levels. However, if NIFTY trades below  27,413 / 8,303 levels for the first half-an-hour of trade then it may correct towards 26,923 - 26,657 / 8,160 - 8,083 levels," it added.

"Indian shares tumbled on Tuesday as worries about how Fed rate increases might affect capital flows overshadowed RBI's rate cut for the third time in five months. The central bank cut its repo rate by 25 basis points to 7.25%, as widely expected, after taking similar moves in January and March.

After recovering from an initial move to the downside, stocks showed a lack of direction throughout much of the trading session on Tuesday. Reports on private sector employment, international trade and service sector activity are likely to be in focus on Wednesday. 

The European markets moved mostly lower over the course of the trading day on Tuesday. The situation in Greece remained in focus as the country approaches its debt-repayment deadline of June 5th."

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