Trend deciding level for the day for Sensex and Nifty are 21181 and 6309 - Angel Broking

Indian markets are expected to open flat to positive tracking marginally positive opening trades in SGX Nifty and most of the Asian markets. SGX Nifty is trading higher by 15 points (0.2%).

US markets lacked direction throughout the trading session on Friday and ended modestly lower. The choppy trading seen for most of the day came as many traders remained away from the markets following the Christmas Day holiday on Wednesday. A lack of major US economic data also kept some traders on the sidelines following the recent string of upbeat economic reports. European markets ended on a positive note tracking gains in Asia, though the trading action was light throughout the day and is likely to remain subdued going into the next week, due to the upcoming New Year holiday.

Meanwhile, Indian markets rose for a second consecutive session on Friday, with firm global cues and continued buying by foreign funds underpinning sentiment. The trading during the week could be impacted by the release of reports on US consumer confidence, US manufacturing activity, and US construction spending, although traders may remain on the sidelines amid the New Year's Day holiday.

The trend deciding level for the day is 21,181 / 6,309 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 21,248 - 21,303 / 6,329 - 6,345 levels. However, if NIFTY trades below 21,181 / 6,309 levels for the first half-an-hour of trade then it may correct up to 21,126 - 21,059 / 6,294 - 6,274 levels.

Source : Equity Bulls

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