Markets may post marginal losses in the opening trades tracking markets across Asia which were trading in the red following the weak markets in the US. The SGX Nifty which indicates the opening is currently trading down 17 points at 5,516.
The US markets extended losses for the sixth straight day on Wednesday as investors worried that a slowing economy could deepen the market's retreat. The Dow Jones industrial average dropped 0.18% to 12,049. The Standard & Poor's 500 Index lost 0.4% to 1,279. The Nasdaq Composite Index fell 0.97% to 2,675.
Taking cues from these developments the Asian markets started mixed with the Nikkei Stock Average down 0.3% as strengthening Yen weighed on the exporter shares. The Hang Seng Index slipped 0.2% and Shanghai Composite lost 0.2%. KLSE Composite and Taiwan Weighted were the only indices in the green up 0.15% each.
Ashish Chaturmohta, Vice President - Derivatives and Technical Analyst states that Nifty holds immediate support at 5470 levels and caps its immediate resistance at 5610 levels whereas a positional support holds at 5400 levels, below which bears may dominate the bulls in the market
