Markets may open in the green as most of the Asian markets were trading higher. Nifty futures on the Singapore Exchange surge 20 points, at 5680.
Technical analysts expect markets to move higher after opening in the green. Prakash Gaba said, "technically the market is still down but the set-up is such that an up move is a possibility, hence aggressive traders can go long with a stop loss below 5600 for a target of around 5750." Ravi Natahni added," ear term correction seems arrested, best strategy would be buy on dips without stoploss below 5638 as markets are expected to bounce around 100 points."
Other markets in Asia were trading mostly in the green.Hong Kong's Heng Seng was trading flat at 24,299, up 142 led by chinese metal producer Chalco on expectations of strong earnings and rally in local property developers. Japan's Nikkei Stock Average was up 18 points, at 10,521. South Korea's Kospi Composite was trading flat at 2,101, up 1 point.
China's Shanghai Composite was down 15 points, at 2,692 on reports of China's gross domestic product up by 10.1% and the government may cut banks lending for 2011.