Equities likely to open lower on weak global cues

Equities are likely to open lower on Thursday after global markets fell on renewed economic concerns in the US. Investors fretted about the impact of a global slowdown on corporate bottom lines.

The market has given a breakout above the 4270-4450 range and as long as it sustains above that band on dips, it is expected to test the 200 EMA positioned in the 4680 region. The short term is positive but high volatility is likely to prevail so make the best of it. Markets are likely to open on a weak note on negative global cues and then chart their own course as the day progresses.