News flows on Oil keeps the markets guessing

We have seen some interesting developments on Oil in the last few days :

• Russia one of the major Oil producers showing interest in cooperation with other oil producing nations to freeze production .
• Opec showing a keen interest in controlling production.
• However production cuts seems highly unlikely .

Thus though there is some positive developments , the fundamental oversupply situation in Oil will continue.


As Oil prices turns  more volatile global financial markets swings between hope and despair . US markets corrected yesterday in line with the global Oil prices. We may see more such sharp movements in the next few days.

In India the budget may not bring much cheer to the market . Any bill that needs Opposition support is destined to fail from being approved .

Rupee looks weak and may slowly drift towards 70 against the USD . Nifty may  open weak , however the market is close to some strong support . Thus trades may like to see a clear direction emerging before taking any positions.

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