Indian Markets to usher New Year with flat opening - Angel Broking

Indian Markets are expected to open flat today tracking flattish opening in the SGX Nifty with marginally up by 9 pts.

US Markets ended a strong year on an upbeat note, as stocks moved mostly higher over the course of the trading day on Tuesday. Some buying interest was generated by the release of a report from the Conference Board showing a bigger than expected rebound by consumer confidence. The Conference Board said its consumer confidence index jumped to 78.1 in December from 72.0 in November as against economists expectation of a climb to 76.8 from the 70.4 originally reported for the previous month. European markets ended the trading session on Tuesday in positive territory on a light trading day. Investors were pleased with the increase in U.S. consumer confidence, following the disappointing pending home sales report on Monday.

Meanwhile, Indian Markets ended a volatile session modestly higher on Tuesday, with firm global cues and continued FII buying underpinning sentiment. The other Asian markets ended mixed in light trading as a flat close on Wall Street overnight and a lack of positive triggers rendered investor mood somewhat cautious heading into the New Year.

The trend deciding level for the day is 21,175 / 6,303 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 21,227 - 21,283 / 6,318 - 6,333 levels. However, if NIFTY trades below 21,175 / 6,303 levels for the first half-an-hour of trade then it may correct up to 21,119 - 21,067 / 6,288 - 6,273 levels.

Source : Equity Bulls

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