Nifty Futures contracts and Bank Nifty Futures contracts surge in open interest, mainly fresh short positions.
U.S. stock futures tumbled on Thursday and Asian markets followed after Canadian authorities arrested a top executive of Chinese tech giant Huawei Technologies
SGX Nifty indicate a flat to negative opening for the broader index in India
Yesterday market gave a mixed reaction to the policy decision, which largely remained a non-event.
Bears likely to take back control
Provisional data released by the stock exchanges showing that DII and FII, both, were net sellers of Indian stocks yesterday, also weighed on the sentiment.
The market breadth, indicating the overall health of the market, was weak.
Theoretically, 200-day moving average is expected to hold as support in the immediate near term.
If Nifty50 decisively breaches its 200-day moving average, then this correction will eventually get extended towards 10,450 levels.
Nifty likely to face resistance at 10820 and support at 10740.
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