Indian Markets expected to open flat to positive tracking Asian Markets - Angel Broking

The Indian markets are expected to open flat to positive tracking marginally positive opening in most of the Asian markets and the flat opening of SGX Nifty.

US markets were closed yesterday owing to Memorial Day holiday. Nevertheless, The European markets ended the day higher on Monday, after markets in Asia closed mixed amid uncertainties about whether the Federal Reserve would scale down its bond purchase program. Volumes were thin amid the Spring Bank holiday for the UK market and the Memorial Day in the U.S.

Meanwhile Indian markets ended higher on Monday and the benchmark Sensex jumped 326 points as investors cheered falling crude oil price and placed renewed faith in the US Federal Reserve continuing with its monetary stimulus. RIL led the rally gaining more than 5% after the company announced a discovery in the D6 block in KG Basin post-market hours on Friday.

The trend deciding level for the day is 19,931 / 6,053 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20,183 - 20,336 / 6,130 - 6,177 levels. However, if NIFTY trades below 19,931 / 6,053 levels for the first half-an-hour of trade then it may correct up to 19,778 - 19,526 / 6,006 - 5,929 levels.

Source : Equity Bulls

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