''Indian markets are expected to open on flat note tracking SGX Nifty. Indian indices edged lower in volatile trade after the stock market regulator Securities and Exchange Board of India (Sebi) imposed restrictions on issue of Offshore Derivative Instruments (ODIs) by foreign portfolio investors (FPIs). Index heavyweight ITC led the decline after Health Minister said that he has accepted recommendations of a committee that has suggested prohibition on sale of loose cigarettes,'' according to Angel Broking.

''The trend deciding level for the day is 28,366 / 8,476 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 28,514 - 28,689 / 8,522 - 8,582 levels,'' it said.

''However, if Nifty trades below 28,366 / 8,476 levels for the first half-an-hour of trade then it may correct towards 28,190 - 28,042 / 8,417 - 8,370 levels,'' it added. 

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