According to a report by Angel Broking, Indian markets are expected to open in red, tracking SGX Nifty and Asian markets.
The trend deciding level for the day is 27,782 / 8,365 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 28,044 – 28,200 / 8,441 – 8,487 levels. However, if Nifty trades below 27,782 / 8,365 levels for the first half-an-hour of trade then it may correct towards 27,626 – 27,363 / 8,319 – 8,243 levels.
Indian markets are expected to open in red, tracking SGX Nifty and Asian markets.
US stocks continued to correct from their yearly highs after traders started selling shares that rose the most in 2014, to scrutinize new growth prospects. Tracking lower Gold & Crude Oil Futures during the week, both, S&P and NASDAQ ended red, whereas, Dow Jones stood flat.
Taking negative cues from weak Euro zone manufacturing PMI numbers, and lower Crude Oil Futures, FTSE corrected 0.3%. Indian markets gained on the back of gains seen across financial stocks (HDFC,
ICICI Bank, Axis Bank). Expectations on the banking reforms led these stocks rally. Auto stocks (M&M, Bajaj Auto, Hero MotoCorp) were laggards in trading session.
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