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

Indian markets are expected to open flat to negative tracking flat opening in SGX Nifty while most of the other Asian markets are trading in the negative territory.

The US markets showed a substantial recovery over the course of the trading session on Friday after coming under pressure in morning trading. The volatility was seen over the course day. The major averages eventually ended the session slightly higher. Meanwhile, the majority of the European markets ended Friday's session in the negative territory. Although the earnings picture brightened at the end of the trading week the investors were reluctant to take any positions ahead of the upcoming FOMC meeting this week and the U.S. jobs report for July.

Indian shares ended a volatile session modestly lower on Friday, with a slew of weak earnings reports dampening the sentiments. Investors looked ahead to RBI's monetary policy meeting tomorrow amid expectations that the central bank will maintain a status quo on policy rates.

The trend deciding level for the day is 19,785 / 5,900 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 19,871 - 19,993 / 5,931 - 5,975 levels. However, if NIFTY trades below 19,785 / 5,900 levels for the first half-an-hour of trade then it may correct up to 19,663 - 19,577 / 5,856 - 5,825 levels.

Source : Equity Bulls

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