Crude Oil prices above $110 per barrel to drag Nifty to 16410

Crude Oil prices: Expect volatility and choppiness to be the hallmark at Dalal Street in the near term due to Russia’s military incursion into Ukraine and US Federal Reserve’s aggressive statements on its rate hike decision going ahead.

Caution will continue to be the order of the day and any intraday rallies are likely to be stomach-churning. Expect the session to be a bit rocky, slightly painful as investors’ seen sensing concerns of inflation on backdrop of rising oil prices. If the oil prices rise above $110 per barrel then simply expect Nifty to slip swiftly towards its December 2021 lows at 16410 mark. 

• Crude Oil Price Report October 26, 2017
• Bombay Stock Exchange (BSE India)
• Gold price rises as investors flock to safe-haven metals, but the window for up-move may close soon
• Strong fundamental supports in place but maintain caution
• Stock Recommendations: Tata Elxsi, Ultratech Cement, Polycab India, HDFC Life

Adani Wilmar’s Pre-Market Discovery Price At A Discount Over IPO Price.

• Adani Wilmar’s pre-market discovery price at Rs 221 per share, compared to its IPO price of Rs 230.
• The company’s IPO subscribed over 17 times.

Source: Bloomberg

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