Pre-market action: Here's the trade setup for today's session
«We expect markets to trade in a range with a positive bias, on the back of easing retail inflation and favourable global cues,» said Siddhartha Khemka, Head — Research, Wealth Management, Motilal Oswal.
The markets remained range-bound for the fourth consecutive session on Wednesday, closing with minimal change. In today's trade, the markets may react to the US inflation data, which was the largest in seven months.
«We anticipate the consolidation phase to conclude soon, with the Nifty likely to surpass the 24,800 resistance level. While sectoral participation remains selective, the banking and IT sectors are expected to play a pivotal role in driving the next leg of the rally,» said Ajit Mishra – SVP, Research, Religare Broking.
Here's breaking down the pre-market actions:
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