Indian markets are expected to open in red tracking SGX Nifty, according to Angel Broking. ''The trend deciding level for Sensex and Nifty for the day is 27,736 and  8,402 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 27,943-28,324 and 8,452- 8,542 levels. However, if Nifty trades below   27,736 and 8,402 levels for the first half-an-hour of trade then it may correct towards 27,355 - 27,148 and 8,311 - 8,261 levels.''

Markets continued their downward trend falling nearly 2% on poor global cues and concerns emerging over tighter norms on P-notes. Correction was seen across sectors, with Banking and Metal stocks witnessing maximum correction.

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