Indian Markets expected to open in the red tracking SGX Nifty - Angel Broking

Indian markets are expected to open in the red tracking SGX Nifty which is down by 1.2%. The other Asian indices too are trading in the negative zone.

The US markets closed lower on Wednesday after the Federal Reserve's announcement on quantitative easing. The Federal Reserve has left interest rates unchanged and maintained the pace of its asset purchase program at $85 billion a month. The statement from Federal Reserve at the end of two-day meeting said that downside risks to the outlook for the economy and the labor market have diminished considerably. The Federal Reserve also acknowledged further improvement in labor market conditions. The European markets closed mostly lower on Wednesday as investors were cautious ahead of the announcements from Federal Reserve which were made post the market hours.

Indian markets which traded lower for most part of the trading session on Wednesday showed a strong pull-back in the late afternoon trade and finished flat.

The trend deciding level for the day is 19,207/ 5,810 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 19,313 - 19,381 / 5,841 - 5,860 levels. However, if NIFTY trades below 9,207 / 5,810 levels for the first half-an-hour of trade then it may correct up to 19,139 - 19,033 / 5,791 - 5,759 levels.

Source : Equity Bulls

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