The Indian markets may open flat on the back of mixed cues from the Asian markets and a flat SGX Nifty, which is trading up by a mere eight points at 5,904.
"Technically the market looks weak and can see further downside in the days to come as a fresh sell has been generated on the charts. The next downside targets is 5745 if it does not bounce back", says Prakash Gaba, a Mumbai based technical analyst.
On the Asian front, the markets are trading mixed. Nikkei is up 0.1% along with Taiwan Weighted flat at 8,787.
Hong Kong stocks after rising in the early Monday morning, with energy shares advancing after a pipeline closure in Alaska which boosted crude futures has pared its initial gains. The index is flat at 23,669. Jakarta Composite down 2%, Seoul Composite, Shanghai Composite, KLSE Composite, Straits Times lost 0.2% - 0.3%.
The stocks to watch for the day are Patni and sugar stocks. Inox Leisure, Reliance Infrastructure, Jet Airways, Berger Paints and Larsen & Toubro some of the other scrips.