Indian Markets expected to open flat to negative tracking negative SGX Nifty - Angel Broking

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

US markets were under pressure in early trading on Wednesday and stocks remained firmly in negative territory throughout the session. Renewed concerns about the outlook for the Federal Reserve's stimulus program weighed on the markets. The major averages ended the day in the red but well off their lows for the session. Meanwhile the European markets ended Wednesday's session solidly in negative territory, reversing the gains of the previous session. The strong housing and consumer confidence data released by the U.S. yesterday gave rise to concerns that the Federal Reserve may scale down the stimulus program in the coming months.

Meanwhile, Indian shares fell modestly on Wednesday as investors took some profits off the table following three days of gains, awaiting the expiry of nearmonth F&O contracts on Thursday and the release of March-quarter GDP data on Friday.

The trend deciding level for the day is 20,131 / 6,100 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20,217 - 20,303 / 6,130 - 6,155 levels. However, if NIFTY trades below 20,131 / 6,100 levels for the first half-an-hour of trade then it may correct up to 20,045 - 19,959 / 6,074 - 6,044 levels.

Source : Equity Bulls

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