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

Indian markets are expected to open flat to negative tracking negative opening in SGX Nifty and mixed opening in other Asian markets.

US markets ended the session mixed on Wednesday after falling sharply for previous two sessions. The choppy trading on Wall Street came as traders weighed positive sentiment generated by news of the nomination of Janet Yellen as Federal Reserve Chairman against continued concerns about the ongoing government shutdown. Traders also continued to keep a close eye on developments in Washington, where lawmakers remain at an impasse over funding the government and raising the debt limit. European markets too ended the day in negative following the negative global cues.

Back home, Indian markets rebounded from early losses to end the day sharply higher, after the provisional data released by the commerce ministry showed India's exports grew 11.15% in September and imports declined by 18.1% amid a sharp fall in gold and silver imports helping to narrow India's trade deficit to a twoand-a-half-year low.

The trend deciding level for the day is 20,118 / 5,967 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20,409 - 20,569 / 6,056 - 6,105 levels. However, if NIFTY trades below 20,118 / 5,967 levels for the first half-an-hour of trade then it may correct up to 19,958 - 19,667 / 5,918 - 5,828 levels.

Source : Equity Bulls

Keywords