Indian Markets are expected to open higher - Angel Broking

Indian markets are expected to open in green tracking positive opening in most of the Asian markets following Wall Street's advance overnight as US Senate leaders expressed optimism over reaching a deal to raise the nation's debt limit and fully reopen federal operations.

US markets moved higher in yesterday's trading session as lawmakers appeared to be inching towards an agreement to raise the debt ceiling, three days before U.S. borrowing authority is set to expire. The Senate leaders are said to be considering a proposal from Sen. Susan Collins, R-Maine, that would fund the government and raise the debt ceiling in exchange for changes to Obamacare. The latest proposal would reopen the government at current spending levels until January 15 and extend the federal borrowing limit until early February, according to aides familiar with the talks. Meanwhile, the European markets ended Monday's session with mixed results. Investor sentiment was impacted by weaker than expected drop in Chinese exports in September as well as concerns over the continued stalemate in US budget talks.

Indian markets maintained its upward journey for the fifth consecutive session on Monday with the benchmark indices closing near a month high despite higherthan-expected September inflation data at 6.46%, mainly driven by higher food prices.

The trend deciding level for the day is 20,584 / 6,107 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20,670 - 20,732 / 6,130 - 6,148 levels. However, if NIFTY trades below 20,584 / 6,107 levels for the first half-an-hour of trade then it may correct up to 20,522 - 20,436 / 6,089 - 6,065 levels.

Source : Equity Bulls

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