Indian Markets expected to open positive today - Angel Broking

Indian markets are expected to open positive today following the positive opening in SGX Nifty and other Asian bourses.

US markets continued their upward momentum on Monday even as McDonalds and toy-maker Hasbro posted lower than expected earnings. S&P 500 index rose by 0.2%, while NASDAQ was up by 0.4%. However, Dow Jones ended the day flat. Data from the National Association of Realtors revealed that sales of previouslyowned homes fell 1.2% in June; whereas, economists had expected a gain for the month. The European markets ended Monday's session in the green after Japanese PM's Liberal Democratic Party's victory in parliament's upper house. However, there were concerns of a slowdown in the German economy.

Meanwhile Indian markets ended flat on Monday line after witnessing intraday volatility. The market, which rose in early trade, lost intraday gains in late trade after weak Q1 results from L&T sent capital goods shares tumbling.

The trend deciding level for the day is 20,163/ 6,033 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20,261 - 20,362 / 6,063 - 6,093 levels. However, if NIFTY trades below 20,163 / 6,033 levels for the first half-an-hour of trade then it may correct up to 20,062 - 19,964/ 6,003 - 5,974 levels.

Source : Equity Bulls

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