Indian Markets are expected to open flat today tracking SGX Nifty - Angel Broking

Indian markets are expected to open flat today tracking a marginally weak opening in SGX Nifty.

The US markets after trending lower over the past few sessions, showed a lack of direction throughout the trading day on Friday. Uncertainty about the outlook for the Federal Reserve's stimulus program contributed to the choppy trading on Wall Street. The major averages bounced back and forth across the unchanged line before closing mixed. The European markets ended Friday's session with mixed results, but finished the overall trading week in the red. Investors concerns over when the Federal Reserve will begin tapering its stimulus measures persisted as Fed has its policy meeting on Wednesday this week.

Indian markets hit their lowest level in more than a week on Friday, weighed down by disappointing economic data. The key indexes fell more than a percent each, extending losses for the fourth straight day.

The trend deciding level for the day is 20,758 / 6,179 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20,824 - 20,933 / 6,198 - 6,227 levels. However, if NIFTY trades below 20,758 / 6,179 levels for the first half-an-hour of trade then it may correct up to 20,650 - 20,584 / 6,150 - 6,132 levels.

Source : Equity Bulls

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