Even though the market appears resilient, bulls are facing major headwinds in the form of sustained selling by FIIs. Therefore, 'buy on dips' strategy of retail investors and DIIs, countered by 'sell on rally' strategy of FIIs is likely to keep the indices range-bound on Thursday.
That apart, weekly F&O expiry, stock-specific news flow and global cues will also guide the sentiment on the Street.
On the earnings front, more than 200 companies are set to report their September quarter results today and includes the likes of Balkrishna Industries, Cochin Shipyard, Godrej Consumer Products, NDTV, NMDC, Suntech Realty, and Tata Steel.
Meanwhile, in the primary market, One97 Communications, owner of Paytm, closed its initial public offer with 1.89 times subscription, backed by retail and QIB investors.
Sapphire Foods’ IPO, meanwhile, will close later today and has been subscribed 1.07 times/per cent so far.
Latent View Analytics’ three-day share sale, which opened yesterday, received a robust response on the first day and has been subscribed 6.39times so far.
On Wednesday, the BSE Sensex ended with a loss of 80 points at 60,353. It's counterpart NSE Nifty settled with a loss of 27 points at 18,017.
As per tech charts, the Nifty found support around 17,970-17,920 levels. Thus, if it manages to hold above these levels, then we may see a swift bounce over the next few sessions. However, if it fails to hold them, then we may see downward pressure towards 17,700-17,600.
The Nifty is facing stiff resistance around 18,100-18,200 zone and the overall broad trading range is coming within 17,600-18,300 zone.
 "Market Ahead Podcast, Nov 11: Factors that could guide markets today")
