Trend deciding level for the day is 21,125 / 6,272 levels - Angel Broking

Indian Markets are expected to open in green tracking positive opening trades in most of the Asian indices, as concerns about a confrontation between Russia and Ukraine eased.

The US markets rallied on Tuesday, with the S&P 500 closing at a record after reports that Russian troops ended military exercises in the border regions with Ukraine, easing political tensions between Ukraine and Russia over the Crimean peninsula. With no economic reports scheduled, geopolitical news dominated Tuesday's trading. Investors welcomed news that Russian President Vladimir Putin ordered troops stationed on the border with Ukraine back to base after the completion of military exercises. Meanwhile, European stocks also rallied on Tuesday amid hopes for a diplomatic solution to the conflict between Russia and Ukraine.

The Indian markets rallied on Tuesday as concerns over the crisis in Ukraine eased. The safe-have Japanese yen fell sharply, gold prices dropped from a 17-week high, Brent crude prices fell below US$110 a barrel and the rupee pulled back from its day's low of 62.14 per dollar in the wake of reports that Russia has ended military exercise along its western border.

The trend deciding level for the day is 21,125 / 6,272 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 21,309 – 21,409 / 6,328 – 6,358 levels. However, if NIFTY trades below 21,125 / 6,272 levels for the first half-an-hour of trade then it may correct 21,025 – 20,841 / 6,242 – 6,185 levels.

Source : Equity Bulls

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