Markets opened lower in the wake of weak global cues and traded with negative bias during the first half, but recovered some losses towards the end of the session to close in red. On the daily chart the indices have retraced the prior up move (17,469 to 18,736 / 5,232 to 5,608) by 50% and have closed above it. In coming trading session, if indices trade above 18,370 / 5,500 levels then they are likely to test 18,500 - 18,642 / 5,540 - 5,580 levels. On the downside, support levels are at 18,103 - 17,953 / 5,420 - 5,376.
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