Indian markets are likely to open flat and may remain range bound tracking the SGX Nifty and Asian markets, said Angel Broking in its report.

US markets moved to the upside early in the session and remained firmly positive throughout the trading day on Tuesday. With the upward move, the Dow and the S&P 500 both climbed to new record closing highs. The strength on Wall Street was partly due to bargain hunting, with traders picking up stocks at relatively reduced levels.

The majority of the European markets ended Tuesday's session with small gains, following yesterday's weak performance. Investors stepped in to buy technology stocks following Monday's drop.

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