The Indian market is expected to open flat today, mirroring flat opening in the SGX Nifty and marginally positive opening trades in most of the Asian bourses. Investors would keenly watch out for the outcome of the RBI's monetary policy meet scheduled today. The US stocks, after trending higher over the past few weeks, showed a lack of direction throughout the trading on Monday. The lackluster performance came as traders seemed reluctant to make any significant moves following the recent strength.
The European markets ended the trading session on Monday with mixed results. Investors were pleased with some positive economic data from China, as well as the surge in U.S. durable goods orders. However, the larger than expected decrease in U.S. pending home sales provided a note of caution. Meanwhile, the Indian markets ended a lackluster session largely unchanged as investors adopted a cautious stance ahead of the monetary policy meet of RBI scheduled today and the January series F&O expiry slated for Thursday.
Markets Today-
The trend deciding level for the day is 20,113/6,075 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20,16320,223/6,0886,102 levels. However, if Nifty trades below 20,113 / 6,075 levels for the first half-an-hour of trade then it may correct up to 20,053-20,003/6,0616,048 levels.
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