Equities are volatile with a positive bias due to lack of direction.

Equities are volatile with a positive bias due to lack of direction. Positive global markets and expectations of a stimulus package and rate cuts provided support to benchmarks. All the sectoral indices were in the red led by realty, auto and metal stocks.

Trend deciding level for the day is 9416 / 2889 (Sensex/Nifty). If the market trades above these levels during the first half-an-hour of trade then we may witness a further rally upto 9668 - 9803 / 2965 - 3008. However, if market trades below 9416 / 2889 for the first half-an-hour of trade then it may correct up to 9281 / 2846.

Indices faces strong hurdle around levels of 3000 with support around levels of 2820 on lower side. Any sustained move above levels of 3000 may take indices towards levels of 3045 on higher side. Volatility could remain order of the day