Indian Markets are expected to open in positive territory - Angel Broking

Indian markets are expected to open in the positive territory tracking positive opening from SGX Nifty with most of Asian markets trading in positive zone in the early trade.

US markets witnessed considerable strength on Tuesday regaining some ground after moving sharply lower over the past few sessions. The markets reacted positively to upbeat economic data from the Commerce Department that the durable goods orders surged up by 3.6% in May (higher than expected 3% by economists) following a matching increase in April. A separate report showed that the new home sales climbed 2.1% to a seasonally adjusted annual rate of 476,000 in May from the revised April rate of 466,000. European markets too bounced back on Tuesday, following 5 consecutive sessions of losses owing to positive sentiments due to upbeat economic news in U.S and statement from the People's Bank of China easing concerns over a credit crunch in the country.

Meanwhile, Indian shares rose modestly on Tuesday with the firm global cues supporting the positive sentiment.

Markets Today

The trend deciding level for the day is 18,640/ 5,615 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18,792 – 18,955 / 5,660 – 5,711 levels. However, if NIFTY trades below 18,640 / 5,615 levels for the first half-an-hour of trade then it may correct up to 18,477 – 18,325 / 5,564 – 5,519 levels.

Source : Equity Bulls

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