Markets likely to open with marginal gains

The Indian equity markets may open on a flat-to-positive note on Friday. Trends on SGX Nifty suggest that markets are likely to open with marginal gains of 15 points at 9,809. 
 
Nifty has resistance placed in the region of 9,800-9,830, and if it successfully manages to stay above this level, expect the rally to extend up to the level of 9,880 in the short term. On the other hand, a breach of the level of 9,685 would mean continuation of the trend on the downside, and in that case, the next levels to watch out for would be 9,630 and 9550 on the downside. 

Back home, Indian markets snapped seven day’s losing streak and ended the session with modest gains on Thursday as traders covered their short positions on the eve of September series derivative expiry. The BSE Sensex surged 123 points to settle at 31,282 and the Nifty climbed 33 points to close at 9,769. The Mid-Cap and Small-Cap index gained 0.77% and 0.9%, respectively. 
 
The US equities eked out modest gains on Thursday with the S&P 500 index scaling to a new record closing high. The Dow Jones Industrial Average inched up 41 points to settle at 22,381. The Nasdaq Composite Index ended almost unchanged. The S&P 500 rose 3 points to close at 2,510.   
 
Asian markets were mixed in early Friday trade, with Japan’s Nikkei 225 being the only market trading in negative terrain with loss of 70 points.  On the other hand, Hong Kong's Hang Seng has gained 60 points and China’s Shanghai Composite has added 14 points.