Indian Markets are expected to open flat to positive - Angel Broking

The Indian markets are expected to open flat to positive, tracking positive opening in most of the Asian markets as a higher finish for US equities and gold prices provided a lift.

The US markets regained some ground during trading on Tuesday as upbeat earnings and economic data inspired traders to pick up stocks at reduced levels following previous sell-offs. The rebound by stocks was partly due to a positive reaction to earnings news from big name companies such as Coca-Cola after the beverage giant reported adjusted first quarter earnings that came in above analyst estimates. Positive sentiment was also generated by a report from the Commerce Department showing a much bigger than expected increase in housing starts as it jumped by 7.0% to an annual rate of 1.036mn in March from the revised February estimate of 968,000. A separate report from the Federal Reserve showed a bigger than expected increase in industrial production in March by 0.4% following an upwardly revised 1.1% increase in February.

Meanwhile, Indian markets rose Indian shares rose for a second consecutive session on Tuesday, as a sell-off in gold, oil and other commodities helped ease worries about the nation's high current and fiscal deficits. Slowing inflation numbers added to expectations of potential rate cuts, helping investors shrug off weak global cues.

The trend deciding level for the day is 18,614 / 5,648 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18,902 - 19,060 / 5,740 - 5,791 levels. However, if NIFTY trades below 18,614 / 5,648 levels for the first half-an-hour of trade then it may correct up to 18,457 - 18,168 / 5,597 - 5,505 levels.

Source : Equity Bulls

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