Market likely to move higher: Dynamic Levels

Dynamic Levels' Market Outlook:

22nd GST Council has ease their norms, sector specific buying expected

GST Council meeting held on Friday lower down compliance burden from SME’s and has started talk to review GST rates. This move came after common people feel the GST burden in their day to day life and business.

GDP has added fuel to the concern which decline drastically. Indian Market took it seriously and Indian benchmark Index Nifty fell almost 450 points from its high of 10150 to 9685, where international markets are making newer highs. This move of easing GST rate will help market to recover with strength.

Sector which will receive benefit out of this change will zoom. Thus we have to keep eye on the sectors which are moving today.

NIFTY OUTLOOK & OPEN INTEREST IN INDEX OPTION

Cash Market Data

In the current expiry, FII and PRO in combined have created a buy position of 111601 contracts in Index options which indicates that market will go up.

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