Indian Shares expected to open positive today - Angel Broking

Indian shares are expected to open positive today, tracking the positive opening trades in the SGX Nifty and most of the Asian indices. Most of the Asian markets are trading higher, as U.S. economic data beat estimates and on bets that the Federal Reserve will keep its record stimulus.

US markets moved mostly higher over the course of the trading day on Thursday, offsetting the weakness seen over the past few trading sessions, on the back of better than expected US retail sales and jobless data. Meanwhile, the European markets trimmed their early losses in the afternoon following the release of upbeat US economic data. Trading on Friday could be impacted by another batch of U.S. economic data, including reports on producer prices, industrial production, and consumer sentiment.

Back home, Indian markets fell sharply on Thursday, mirroring weak Asian and European cues as investors become anxious about central banks' stimulus policies. Weak global cues dampened the investor enthusiasm over Fitch's move to upgrade India's sovereign ratings outlook.

The trend deciding level for the day is 18,836 / 5,704 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18,906 - 18,984 / 5,725 - 5,751 levels. However, if NIFTY trades below 18,836 / 5,704 levels for the first half-an-hour of trade then it may correct up to 18,757 - 18,687 / 5,678 - 5,657 levels.

Source : Equity Bulls

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