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Indian markets could open flat to mildly higher, following largely positive Asian markets today - HDFC Securities 

US markets were shut on Feb 15 due to President’s day holiday. European shares ended at a near one-year high on Monday as major resource stocks benefited from expectations of a swift economic recovery and as copper prices leapt to a more than eight-year high.

Banks and energy stocks also climbed as a socalled "recovery trade" sparked demand for sectors that had underperformed the broader index following early 2020'scoronavirus-driven crash. Switzerland's 30-year government bond yield, meanwhile, rose above 0% for the first time since early 2020.

Freezing weather in regions across the U.S. (An Arctic blast in the U.S. threatened to disrupt energy supplies) sparked another rally in energy prices and put West Texas Intermediate crude on pace to settle above $60 a barrel for the first time since the early days of the coronavirus pandemic. WTI crude futures rose 62 cents, or 1%, to $60.09 a barrel Monday.

The jump brings WTI crude futures up about 24% so far in 2021. Oil prices also spiked amid fears of an escalation of tensions in the Middle East, after a Saudiled coalition fighting in Yemen claimed to have intercepted an explosive drone fired by an Iranian-backed Houthi rebel group.

India’s exports grew by 6.16% to $27.45 billion in January. Imports, too, grew by 2% to about $42 billion, leaving a trade deficit of $14.54 billion during the month. In December, India’s trade deficit had widened to $15.7 billion.

Global investors are the least fearful they’ve been in two decades, and perhaps the most greedy. A JPMorgan Chase & Co. gauge of cross-asset complacency based on valuations, positioning and price momentum is nearing the highest level since the time the dot-com bubble burst.

Stocks in Asia-Pacific rose in Tuesday morning trade as markets in mainland China remain closed for the Lunar New Year holiday.Global shares held firm on Tuesday, with a solid foundation in place to extend their bull run to a 12th consecutive session as optimism about the global economic recovery and expectations of low interest rates drive investments into riskier assets.

Indian benchmark equity indices began the new trading week on a strong note on Feb 15 – up for the third consecutive day, driven by outperformance from private financials as well as PSU Banks. At close, the NSE Nifty 50 index also gained 1% or 151.4 points to close at 15,314, another record high.

Nifty keeps rising with upgaps reflecting pent up buying partly driven by encouraging Q3 numbers. However selective buying in sectors means that the overall volumes are measured and advance decline ratio also is either flat or negative (like on Feb 15). The next resistance for the Nifty is 15470 while 15243 could provide support.

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