Nifty 50 had a weak closing on Tuesday- How it will trade today?

Key Reasons that will decide the Nifty 50 Direction for the day.

Oil Prices have a 5 day winning streak, as economies are re-opening around the world.
Wall Street rallied on the back of easing lock down policies.
Asian Markets are trading in positive territory at 7.24 AM.
SGX Nifty is showing a positive start
Key level to watch on Nifty 50 is 9200 level, any drop below this level will trigger a sell-off.

Oil prices are gaining from last 5 days. Tuesday price of benchmark crude rose by 20% at $24.49 a barrel. Brent crude, an international benchmark gained 14% at $31 a barrel. This optimism has come from easing lock down policies around the world.
Governor Andrew M. Cuomo, laid out a tentative plan to re-open New York’s economy. It is worst affected State in United States. Lifted the positive sentiment on Wall Street.
Nasdaq Indices has regained most of its losses in the year 2020. It is now just 2% down from beginning of the year level. A remarkable recovery from its low. Surprised most of the investors.

U.S Markets

Dow Jones Industrial Average gained by 133.33 points, or 0.56%, close at 23,883.09.
The S&P 500 seen upside of 25.70 points, or 0.90%, ends at 2868.44.
Nasdaq Composite Index increased by 8809.12 points, or 1.13%, close at 8,809.12.

Money Control, Time: 7:51 A.M

Indian Markets are weak from last two days. The reason may be increasing corona virus cases and implementation of third phase lock down.
On Tuesday, India recorded the highest single day jump on corona virus cases, with 3900 new cases. Not a good sign for our country as it will make things worst for reopening of economy.
Today Nifty is at crucial level of 9200, any dip below this level will trigger sell off. Till the time Nifty stays above, trader can go long.
Today most of the markets are in positive territory, so trade should be on long side keeping in view of risk reward ratio.
Buy Nifty future at 9220-9250 level and look for target 9300 level. Stop loss at 9190 level.