Energy Market Outlook and Sector Updates: Nirmal Bang

Crude OilCrude oil: The counter have rallied more than 4% yesterday, and met our target of 3425 in just one session. The Counter turned positive with close above all the short term averages. The RSI and Direction Index (ADX) indicate a positive crossover. Thus one can remain long in the counter at lower levels targeting 3530 as next target.