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Mumbai: After witnessing muted trading for the last three weeks, Dalal Street is expected to show a positive bias this week on strong global cues, analysts said.
"The domestic markets would remain upbeat on positive developments in the US front. For the first few days the market could witness a rally and for the rest of the week optimism would prevail," Unicon Financial Chief Executive G Nagpal said.
Marketmen feel that a stability in buying might come in this week after the Federal Reserve Chairman Ben Bernanke said on Friday that after contracting sharply over the past year, economic activity appears to be ‘levelling out’ both in the US and abroad.
"Optimism is in the air as the US and European markets saw sharp uptrend after Bernanke's statement. The US economy looks promising and that would have a positive impact on other economies," SMC Global Vice President Rajesh Jain said.
The analysts believe Asian markets would pick up cues from the US and European markets which are on an uptrend after witnessing corrections.
Markets, however, may see choppy trading ahead of the expiry of the August series Futures and Options contracts on August 27.
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