Indian Markets expected to open in positive territory tracking positive opening in SGX Nifty - Angel Broking

Indian markets are expected to open in the positive territory tracking a positive opening in SGX Nifty. Most of the Asian markets are trading in the positive territory.

The US markets were closed yesterday for the Labor Day national holiday. Meanwhile the European markets ended notably higher on Monday, after results of two separate surveys showed that China's manufacturing sector performance strengthened in August, suggesting that the overall economic growth may gather pace in the coming months. Manufacturing data from the region also helped influence sentiment.

Indian shares rose sharply to hit a two-week high on Monday, as falling oil prices and the rupee's rebound last week following measures announced by the RBI outweighed weaker-than-expected GDP data. Global cues remained supportive, further bolstering investor sentiment.

The trend deciding level for the day is 18,836/ 5,532 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18,992 - 19,099 / 5,584 - 5,618 levels. However, if NIFTY trades below 18,836/ 5,532 levels for the first half-an-hour of trade then it may correct up to 18,729 - 18,573 / 5,498 - 5,445 levels.

Source : Equity Bulls

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