Indian Markets are expected to open flat to positive today - Angel Broking

Indian markets are expected to open flat to positive tracking the positive opening in SGX Nifty and most of the other Asian markets.

The US markets saw considerable volatility on Wednesday following the release of the Federal Reserve's monetary policy announcement and ended the session mixed. The Federal Open Market Committee (FOMC) kept its bond-buying program unchanged at US$85 billion a month and stated that the economy is expanding at a "modest" pace. The investors will keep an eye over the upcoming reports due in the week which includes weekly jobless claims, manufacturing activity, and construction spending. Meanwhile, the European stock markets extended losses in afternoon action on Wednesday, after data showed the U.S. economy grew at a 1.7% annual rate in the second quarter, beating the expectations.

Meanwhile, Indian shares recouped their early losses to end almost on a flat note Wednesday. After sliding to as low as 61.21 in early trading, the rupee closed at 60.79 per dollar amid suspected RBI intervention. The mid-cap and small-cap indices fell about a percent each on concerns over the rupee's continuous decline and its impact on inflation and financial stability.

The trend deciding level for the day is 19,287/ 5,723 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 19,447 - 19,547 / 5,771 - 5,800 levels. However, if NIFTY trades below 19,287 / 5,723 levels for the first half-an-hour of trade then it may correct up to 19,186 - 19,026 / 5694 - 5,647 levels.

Source : Equity Bulls

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