''Indian markets are expected to open negative tracking SGX Nifty and Asian markets. India's key benchmark indices edge lower as rate sensitive stock fell ahead of RBI policy review, but IT and Pharma stock rallied on back of rupee depreciation,'' according to Angel Broking.

''The trend deciding level for the day is 26,610 / 7,962 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 26,703 - 26,808 / 7,989 - 8,019 levels,'' it said.

''However, if Nifty trades below 26,610 / 7,962 levels for the first half-an-hour of trade then it may correct 26,505 - 26,413 / 7,932 - 7,905 levels,'' it added.

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