''Indian markets are expected to open negative on the back of negative global cues. The markets may trade volatile ahead of F&O expiry. We may see earnings led stock specific action. Investors are advised to adopt a staggered buying approach to build the long term portfolio,'' said ICICIdirect.

Domestic markets ended negative amid fresh worries on retrospective taxes and a delay in earnings recovery. Sentiments also took a hit after the Prime Minister had to delay a bill that would make farm land acquisition easier, following anger over rising rural distress and the suicide of a farmer in India's capital. US markets ended negative on concerns whether the economy would rebound from weak growth seen in the first quarter.

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