Transcript for:
Crude Oil Impact on Markets Insights

broad a setup right Anu what are you making of it morning prashan of course the big que today is crude the we it's uh come down of course it's h it led to Global Market weakness because it's come due to the demand Factor but it's of course positive for us crude below $70 is a huge macro and micro positive so fmcg could be the the lead sector today my senses stocks like lever Asian Paint pedite Etc even interlobe uh could be in Focus today also the Fallen cude is normally elgo positive for the bank Nifty and Bank Nifty uh it's expiry today it's due for a th000 point move in either direction depending on which side of the range it breaks uh the Nifty it has also shown signs of correct you know taking a support at the 20-day exponential moving average the only missing piece in puzzle has been Reliance Reliance all of a sudden has become an extremely weak stock it's Fallen 9% from its recent highs uh so that's one stock to keep an eye on in terms of levels to watch on the index first I'll talk about Nifty the first resistance is 25130 to 25150 4 according to me yesterday's high and the options data Zone and the bigger resistance of course the all-time high Zone 25250 to 25 350 support is more important of course 24875 to 25,000 yesterday's low and based on the options data and then the bigger support is 24750 24800 the series Loop in terms of the bank Nifty where we have the weekly options expiry today the first resistance comes in at 51 350 to 51400 the last two days uh of high uh is uh placed here and then 5146 to 51 552 based on the options data above 51 552 my senses Bank Nifty can see a sharp move to 52,000 the support comes in at 5950 to 5150 and then 50,400 to 50,500 for the quote of the day you know today is an important day it's uh dig Divas September 11th uh the day Swami vivean delivered that historic speech in Chicago so I take it from there all the parts in the universe are already asked it is we who have put our hands before our eyes and cry that it's dark you know I I said it's it's an important day also because today is the day Prashant Nela I came to Mumbai 20 years ago oh wow uh so two decades inimum City two decades in the best city in the world yeah absolutely uh I'd agree I'd concur I would have said it when I moved into back in 2009 but it quickly changes your mind absolutely