Indian Markets to open positive, US stocks surge - Angel Broking

Indian markets are expected to open in the positive tracking positive opening in SGX Nifty and the other Asian markets which are also trading in the green.

US markets after turning in a lackluster performance in the previous session moved sharply higher over the course of the trading day on Thursday. The markets benefited from optimism about an end to the budget deadlock in Washington. The major averages saw continued strength in the final hour of trading, closing at or near their highs for the session. The European markets bounced back from three consecutive sessions of declines on Thursday and finished solidly in positive territory. The rally was driven by optimism about a potential end to the budget deadlock in Washington. With the partial shutdown of the U.S. government reaching its 10th day, lawmakers appear to be getting closer to a resolution.

Indian markets erased early losses to end modestly higher on Thursday, bolstered by hopes of a breakthrough in the U.S. fiscal impasse. Media reports said that the House Republican leaders are contemplating advancing a short-term debt limit increase to calm financial markets and buy time for negotiations on broader policy measures. President Barack Obama signaled that he is ready to accept a short term debt limit deal without policy conditions, providing temporary relief.

The trend deciding level for the day is 20,244 / 6,012 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20,352 – 20,432 / 6,043 – 6,066 levels. However, if NIFTY trades below 20,244 / 6,012 levels for the first half-an-hour of trade then it may correct up to 20,165 – 20,056 / 5,989 – 5,957 levels.

Source : Equity Bulls

Keywords