Indian equity market rebounded from day’s low with the Nifty shutting shop exactly at the same level as Wednesday. The index closed above 50-day EMA (exponential moving average placed at 22,243). Nifty is likely to consolidate above the support (22,150) levels and may face resistance at 22,400-22,500 levels in the coming days, but if it breaks the said support, then the fall may extend up to 22,000 mark, experts said. On May 8, the BSE Sensex was down 45 points at 73,466, while the Nifty 50 was unchanged at 22,302.5. India VIX gained for a 10th straight day. The GIFT Nifty is indicating a flat start yet again. Among stocks to watch today – L&T will react to its Q4 earnings while SBI & Asian Paints will hand in their Q4 report cards. Catch Nandita Khemka decode the cues for trade with Gaurang Shah, Senior Vice President, Geojit Financial Services and Chandan Taparia, Senior Vice President, Head - Derivatives & Technical Research , Motilal Oswal.

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