Ahead of Market: 10 things that will decide D-Street action on Thursday

economictimes.indiatimes.com:

Here's how analysts interpret the market pulse: “The domestic market began to adopt a defensive stance as investors awaited crucial inflation data for both India and the US. The deflationary trend in China and the downgrade of US mid- and small-sized banks affected market sentiment. However, a late recovery in the domestic market was backed by a positive uptick in the European market and hope of an optimistic RBI policy not impacting domestic economic growth,” Vinod Nair, Head of Research at Geojit Financial Services, said.

“Nifty formed a Hammer-type bullish candle with a long lower shadow on the daily charts. Now, it needs to hold above the 19,560 zones for an up move towards the 19,700 and 19,800 zones, whereas supports are located at 19,500 and 19,420 zones,” Chandan Taparia of Motilal Oswal commented. That said, here’s a look at what some key indicators suggest for Thursday's action:US marketWall Street's main indexes fell on Wednesday ahead of a key inflation report this week, with investors also assessing remarks from U.S.

Federal Reserve officials. Rate-sensitive megacap growth and technology stocks, that have led the Wall Street rally this year, such as Nvidia, Apple and Tesla were down between 1.3% and 4.6%. At 11:33 a.m.

ET, the Dow Jones Industrial Average was down 154.86 points, or 0.44%, at 35,159.63, the S&P 500 was down 27.85 points, or 0.62%, at 4,471.53, and the Nasdaq Composite was down 164.88 points, or 1.19%, at 13,719.44.European sharesEuropean shares hit a one-week high on Wednesday, with Italian lenders rebounding from previous session's sharp losses after the government eased its stance on a new banking tax. The pan-European STOXX 600 added 1.0%, with technology and bank leading gains. Euro zone