Indian Market Outlook:
Today morning, SGX Nifty is trading at 8297 at 8:35 am IST, which is well above the breakout level of 8276. As per SGX Nifty is expected to open at 8297 i.e. a 13 points gap up. Moreover, the huge buying of FII and PRO in future and options suggests that the buying spree is to be continued. However, 8336 Nifty spot would be a crucial resistance. Reduced oil production after the destruction of the Nigerian unit of chevron oil and decreasing oil stockpiles in the US has boosted oil prices.
International Market Outlook:
The Asian markets along with European and American peers are holding strong too suggesting a global strength in the Indices after the FED chair Jennet Yellen reiterated on Friday that the rate hike would be a gradual process. However, Crude gave a breakout above $50 mark after 10 months on decreasing US oil stockpiles and the destruction of the Chevron Oil production Unit in Nigeria.
Help From: Dynamic Levels
Today morning, SGX Nifty is trading at 8297 at 8:35 am IST, which is well above the breakout level of 8276. As per SGX Nifty is expected to open at 8297 i.e. a 13 points gap up. Moreover, the huge buying of FII and PRO in future and options suggests that the buying spree is to be continued. However, 8336 Nifty spot would be a crucial resistance. Reduced oil production after the destruction of the Nigerian unit of chevron oil and decreasing oil stockpiles in the US has boosted oil prices.
International Market Outlook:
The Asian markets along with European and American peers are holding strong too suggesting a global strength in the Indices after the FED chair Jennet Yellen reiterated on Friday that the rate hike would be a gradual process. However, Crude gave a breakout above $50 mark after 10 months on decreasing US oil stockpiles and the destruction of the Chevron Oil production Unit in Nigeria.
Help From: Dynamic Levels
Nifty steady, eyes 8 month high of 8336
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