Markets to open on positive note, says Angel Broking

Domestic equity markets are expected to open in green tracking their global peers.

After closing negative for two days on concerns over Fed acknowledging slower economic growth during winter months, US stocks on Friday rose sharply.

Surge in US markets was on account of surprise in strong US jobs report, which was released on Friday. Apple led the rally amongst tech stocks.

FTSE 100 closed at 6,986, up 6.4 per cent since beginning of year, surpassing its dotcom era peak.

Boosted by ECBs 1.1 trillion quantitative easing programme and speculation that BoE would delay raising interest rates, FTSE rose to new highs.

Miss on Q4 results across few stocks, coupled with weak monsoon prediction by Met department had put pressure on the Indian markets.

Indian stocks continued their negative trend on Thursday led by Cement, Auto and Metal stocks.

Markets Today

The trend deciding level for the day is 27,050 / 8,185 levels.

If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 27,203 - 27,395/ 8,226 - 8,270 levels.

However, if Nifty trades below 27,050 / 8,185 levels for the first half-an-hour of trade then it may correct towards 26,859 - 26,706 / 8,141 - 8,101 levels.