Indian markets to open in the green - Angel Broking

Indian markets are expected to open in the green tracking positive trade in the major Asian Indices like Hangseng and Nikkei, which are higher by 0.7% to 0.9%.

US markets rose higher on Friday buoyed by an upbeat employment report from the Labor department, which showed stronger than expected job growth in the month of February. The Labor department said non-farm payroll employment rose by 236,000 jobs in February compared to economist estimates for an increase of about 171,000 jobs. The report also indicated that the unemployment rate dipped to 7.7% in February from 7.9% in January, falling to its lowest level since December of 2008. Upbeat economic data from overseas also generated some positive sentiment in US, with a report from Japan's Cabinet Office showing that the Japanese economy stabilized in the fourth quarter of CY2012 after seeing modest contractions in the two previous quarters. European markets too closed higher on Friday, tracking positive developments from US.

Meanwhile India's Key benchmark indices surged on Friday as upbeat Chinese exports data for February 2013 suggested increasing demand for Chinese goods and a rebound in the global economy. During the week, markets would keenly observe the economic data to be releases during the week pertaining to EXIM, IIP and Inflation.

The trend deciding level for the day is 19,622/ 5,927 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 19,767 - 19,851 / 5,971 - 5,997 levels. However, if NIFTY trades below 19,622/ 5,927 levels for the first half-an-hour of trade then it may correct up to 19,539 - 19,394 / 5,902 - 5,857 levels.

Source : Equity Bulls

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