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.