Expect Indian markets to trade firm in line with global markets

Expect Indian markets to trade firm in line with global markets. Domestic players are actively trading & see more strength in midcap stocks. On the upside, 3,150-3,200 levels may continue to act as profit taking zone. We expect a weak spell once the earnings season begins which give clear direction to the market movement. Traders may also resort to some unwinding of positions ahead of the result release time to time. Nifty faces resistance at 3,180 and support near 3,060.

Global Markets: US stocks finish moderately higher on Fed minutes & Asian shares rise as US up on stimulus hopes while Nikkei trades up 2 % to 2-month high; techs, exporters gain. SGX CNX Nifty Index Futures trading up in green.