Indian Markets are likely to open soft tracking Asian Markets - TRANS SCAN

The Indian markets are likely to open soft tracking muted Asian markets. Tracking the momentum the Nifty index may test its key support level of 5940 in trade today; however, the short term trend remains on the downside, say analysts. At 07:30 a.m., Nifty India stock futures in Singapore were trading 3.50 points lower at 5953, indicating a soft opening on the domestic market.

Overnight, US stocks ended higher as weaker-than expected factory activity supported views the Federal Reserve will keep economic stimulus in place.

Major Asian markets were trading higher as weak US manufacturing data eased worries about the Federal Reserve's stimulus programme.

Source : Equity Bulls

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