Ahead of Market: 10 things that will decide stock action on Wednesday

economictimes.indiatimes.com:

Here's how analysts read the market pulse: «Following weak performances in Asian markets, the domestic indices commenced the day with a negative bias, prompted by discouraging domestic industrial data along with concerns over demand from China. However, the indices managed to recover from their initial losses, ending the day on a relatively neutral note. India's wholesale inflation persisted in negative territory, albeit moderating to -1.36%, as the decline in fuel prices was counterbalanced by higher food costs.

India's CPI inflation, due to be released today, is anticipated to exceed the RBI's tolerance level of 6% due to mounting pressure from elevated food prices,” Vinod Nair, Head of Research at Geojit Financial Services, said. “Nifty recovered after a two-day fall, but made a lower top, lower bottom formation. It has formed a high wave type pattern suggesting a small bounce.

19563-19576 band could be the next resistance while the 19201-19234 band could offer support in the near term,” Deepak Jasani, Head of Retail Research, HDFC Securities, said. That said, here’s a look at what some key indicators are suggesting for Wednesday's action:US market opens lowerWall Street's main indexes opened lower on Tuesday after a sharper-than-expected rise in U.S. retail sales stoked concerns the Federal Reserve could keep interest rates higher for longer.