''Indian markets are expected to open on a positive note tracking the SGX Nifty and most of Asian markets. India's benchmark indexes Sensex and Nifty climbed the most since Oct. 31 on Thursday, as the US Federal Reserve's assurance that it would take a 'patient' approach in deciding when to raise interest rates along with a move by the Union Cabinet to clear the constitutional amendment bill for Goods & Services Tax helped trigger a wave of short covering in beaten-down metal, infrastructure and banking stocks,'' according to Angel Broking.
''The trend deciding level for the day is 27,069 / 8,140 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 27,238 - 27,350 / 8,194 - 8,229 levels,'' it said.
''However, if Nifty trades below 27,069 / 8,140 levels for the first half-an-hour of trade then it may correct towards 26,958 - 26,789 / 8,105 - 8,050 levels,'' it added.
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