Indian Markets expected to open in green mirroring SGX Nifty - Angel Broking

The Indian markets are expected to open in the green mirroring a positive opening in SGX Nifty, which is trading higher by 0.7%. Most of the Asian markets too are trading in the green, gaining by around 0.3%-1%.

The US markets rose for the third consecutive day in a row buoyed by positive news flows arising from China and within the country. A report from Chinese Customs department showed that the country's imports rose 14.1% in March and was more than double the estimated rate of growth. Higher than estimated rate of growth generated optimism about domestic demand in China. US markets were also boosted by minutes of the latest Federal Reserve meeting which indicated that the central bank will maintain its asset purchase program at the current pace until at least the middle of the year.

Meanwhile, Indian markets snapped the five-day losing streak buoyed by gains in Asian as well as European markets and strengthening of Indian Rupee. The 4QFY2013 results season is scheduled to begin from tomorrow and markets are expected to react to the results declared by the companies.

The trend deciding level for the day is 18,350 / 5,535 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18,526 - 18,638 / 5,593 - 5,627 levels. However, if NIFTY trades below 18,350 / 5,535 levels for the first half-an-hour of trade then it may correct up to 18,238 - 18,062 / 5,501 - 5,443 levels.

Source : Equity Bulls

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