''Indian markets are expected to open on positive note tracking the SGX Nifty and most of its Asian peers,'' according to Angel Broking. Back home, Indian shares rebounded from recent losses on Wednesday as investors went bargain hunting in beaten-down stocks, shrugging off fears of a weak monsoon. India's monsoon rains could be below average in 2015 due to an impact of El Nino weather pattern, the India Meteorological Department (IMD) said in its first monsoon forecast.

''The trend deciding level for the day is 27,741 / 8,388 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 28,096-28,303 / 8,492-8,553 levels. However, if Nifty trades below 27,741 / 8,388 levels for the first half-an-hour of trade then it may correct towards 27,535-27,179 / 8,326-8,223 levels,'' it added.

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