Watch | Markets@Moneycontrol: Weak global cues, expiry day may keep investors on edge

Headlines
-IPO frenzy continues, New India Assurance issue to open on Nov 1, price band fixed at Rs 770-800/sh
-Now, Mutual Fund lobby AMFI says Aadhaar to be made mandatory for investments from Jan 1, 2018

-In global news, all eyes on ECB meet…the central bank may reduce size of its bond buying program

We hit record highs on Wednesday but the market breadth was in favour of declines.

It was more of a short covering day after indices broke past their earlier record highs – why I say that because FII came out as net buyers of up to Rs 3,582 crore in Indian equity markets

So, at best we could say that is traders should watch out before going long but at given point in time it is all in favour of bulls.

The Nifty closed at 10,295.3 on Wednesday. According to Pivot charts, the key support level is placed at 10,243.97, followed by 10,192.63. If the index starts to move higher, key resistance levels to watch out are 10,343.57 and 10,391.83.

The Nifty Bank closed at 25,035.9 on Wednesday. Important Pivot level, which will act as a crucial support level for the index, is placed at 24,678.53, followed by 24,321.17. On the upside, key resistance levels are 25,275.53, followed by 25,515.17.

US stocks fell on Wednesday, with the Dow Industrials and S&P 500 indexes suffering their worst day in seven weeks. The Dow Jones Industrial Average fell 112.3 points, or 0.48 percent, to end at 23,329.46, the S&P 500 lost 11.98 points, or 0.47 percent, to 2,557.15 and the Nasdaq Composite dropped 34.54 points, or 0.52 percent, to 6,563.89, Reuters reported.

Asian stocks stalled on Thursday, weighed as Wall Street shares pulled back from record highs. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.05 percent. Australian stocks dipped 0.2 percent while South Korea's KOSPI lost 0.1 percent. Japan's Nikkei which had snapped a 16-day winning run the previous day, rose 0.35 percent, Reuters reported.