Indian Markets to test crucial support level of 5500 - Trans Scan Securities

The Indian markets are likely to open soft following muted Asian markets. Tracking the weak momentum, the index is expected to test its crucial support level of 5500 in trade today. At 07:30 a.m., Nifty India stock futures in Singapore were trading 21.50 points up at 5586.50, indicating a soft opening on the domestic market.

Overnight, US markets slipped for a second consecutive day after comments from a pair of U.S. Federal Reserve officials left investors uncertain about the timing of withdrawal of its stimulus program.

Major Asian markets edged lower as uncertainty about when the Federal Reserve will start to reduce stimulus kept investors on the sidelines.

Source : Equity Bulls

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