Indian Markets expected to open flat today - Angel Broking

The Indian markets are expected to open flat today with a positive bias tracking positive opening in SGX Nifty which is trading higher by 0.4%. Most of the Asian markets too are trading in the green.

US markets saw modest strength earlier in the session, however, came under pressure towards the close on Thursday. Investors were disappointed by the larger than expected increase in U.S. weekly jobless claims, the drop in U.S. housing starts and the weak Philly Fed data. The major indices ended the day in negative pulling back off the record highs. Meanwhile, European markets too finished in negative following the sharp rise of the previous two trading sessions. Some of the day's losses were attributed to profit booking, following the strong gains in recent days.

Meanwhile Indian markets ended higher for a third straight day in a row on Thursday. Key Benchmark indices closed higher by 0.2% after remaining volatile during the day. The markets which rose higher in the morning trade but turned negative in the after-noon trade. However, the recovery in the late afternoon trade resulted in the positive closing to the day's trade. RBI Governor had earlier in the week said that the central bank will take note of falling inflation when discussing potential interest rate cuts, which resulted in improving the market sentiments. Markets Today

The trend deciding level for the day is 20,245 / 6,162 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20,329 - 20,410 / 6,195 - 6,221 levels. However, if NIFTY trades below 20,245 / 6,162 levels for the first half-an-hour of trade then it may correct up to 20,164 - 20,081 / 6,136 - 6,103 levels.

Source : Equity Bulls

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