The Market Is Trading Flat In Morning Following Mixed Trade In Asian Peers

The market is trading flat in morning following mixed trade in Asian peers ahead of uncertainty over raising crude output in OPEC meeting decision due later in the day.

Sectoral trend is also mixed while the broader markets are trading in line with frontliners. The 30-share BSE Sensex fell 10.26 points to 35,422.13 and the 50-share NSE Nifty declined 11.60 points to 10,729.50.

The Bank Nifty is on the verge of a breakdown too. Crucial support for the Bank Nifty index is now seen around its 21-day Double Exponential Moving Average which is placed at 26,350. If the Bank Nifty fails to hold above the same then further weakness cannot be ruled out in the near term.

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