Benchmark indices held on to their gains, with indices trading around their fresh high marks.The Sensex gained 239.20 points at 30172.45, while the Nifty hiked 63.15 points at 9380.00. The market breadth was narrowing as 1,510 shares advanced against a decline of 1,026 shares, while 139 shares were unchanged. The Mid-caps, banks, and metals gained over half a percent on the Nifty, while the IT index was down by half a percent.
In Commodity Market, Gold jumped up 98 points at 28,069, Silver higher by 108 points at 37,897.Precious metals prices are lower, today' s markets reacted to a decision by President Donald Trump to dramatically fire FBI Director James Comey, fearing that the resulting political blow back could further derail efforts at tax cuts and other economic policy aims.
Crude oil prices higher,today as industry estimates showed a much sharper draw in U.S. crude inventories expected, though higher than seen gasoline stocks dimmed sentiment. Saudi Arabia would cut supplies to the region as OPEC battles against rising U.S. output that is threatening to derail its attempts to end a sustained global glut in crude.
Buy Crude Oil May in the range of 3000-3006 Targets 3050 / 3100 Stop loss 2950.
Expert view: Technically crude oil is buying on hourly/daily charts while MACD and RSI also indicate good buying opportunity in it.So, traders should go for buy on lower level strategy.
