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, said Angel Broking in its report.
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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