Indian stock markets likely to open positive, says Angel Broking

Indian markets are expected to open on positive note tracking the SGX Nifty and most of its Asian peers, according to Angel Broking.

US stock markets once again shrugged off some early volatility to move mostly higher over the course of the trading day on Thursday.

With the upward move on the day, the tech-heavy Nasdaq ended the session at a new record closing high.

The majority of the European markets ended Thursday's session in negative territory. The markets were dragged lower by a series of disappointing economic reports.

Several purchasing manager surveys showed signs of an unexpected slowdown in April, reflecting weaker rates of expansion in France and Germany.

Back home, The Indian markets fell on Thursday, tracking mixed global cues.

However, the European markets fell broadly as weak Eurozone PMI readings and UK retail sales data spurred concerns over the region's nascent economic recovery.

On Tursday, the Bombay Stock Exchange (BSE) Sensex ended the day 155 points lower to close at 27,735.

Markets Today

The trend deciding level for the day is 27,815 and 8,422 levels for Sensex and Nifty, respectively.

If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 28,008 - 28,281 for Sensex and 8,482 - 8,565 levels for Nifty.

However, if Sensex and Nifty trades below 27,815 and 8,422 levels, respectively, for the first half-an-hour of trade then the equity market may correct towards 27,542 - 27,348 and 8,338 - 8,279 levels.