Indian markets expected to open flat - Angel Broking

The Indian market is expected to open flat, tracking SGX Nifty, which is trading marginally in the negative in opening trade. Most of the Asian markets, barring Nikkei and Shanghai are trading in the red.

The US markets ended the day lower, reacting negatively to the minutes of the latest Fed meeting, which suggested that the central bank could end its quantitative easing program earlier than anticipated. The minutes showed that several members said it would probably be appropriate to slow or stop the central bank's asset purchases well before the end of 2013 as they cited concerns about financial stability or the size of the balance sheet. The European markets ended Thursday's trading session with mixed results.

Indian shares rose modestly on Thursday, extending gains for a third consecutive session, as encouraging economic data from the US and China provided optimism that the global economic recovery is gaining traction.

Markets Today

The trend deciding level for the day is 19,748 / 6,004 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 19,803 – 19,841 / 6,022 – 6,035 levels. However, if NIFTY trades below 19,748 / 6,004 levels for the first half-an-hour of trade then it may correct up to 19,710 – 19,655 / 5,992 – 5,974 levels.

Source : Equity Bulls

Keywords