Sumeet Bagadia of Choice Broking said the index has support at 10,100 level while resistance comes in at 10,500 level.
Chandan Taparia of Motilal Oswal Financial Services said Nifty has to hold above 10,333 level to witness an up-move towards 10,400 and then 10,555 levels, while on the downside the immediate support is seen in the 10,200-10,180 zone.
That said, here’s a look at what some of the key indicators are suggesting for Wednesday’s market action:
US shares subdued on virus fears
The S&P 500 and Dow Jones indexes were muted at the open on Tuesday as coronavirus-related worries and simmering US-China tensions weighed on sentiment at the end of what is expected to be the S&P 500’s best quarter since 1998. At 7:11 pm (IST), the Dow Jones Industrial Average was down 48.89 points, or 0.19 per cent, at 25,546.91, the S&P 500 was up 5.98 points, or 0.20 per cent, at 3,059.22, and the Nasdaq Composite was up 42.80 points, or 0.43 per cent, at 9,916.96.
European shares lifted by Asian markets
European shares picked up on Tuesday after a weak start, extending the optimism of the Asian session, and oil prices steadied as investors looked for signs of an economic recovery in the second half of 2020. The MSCI world equity…