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Markets may head higher if Trump's tax proposal is accepted: Dynamic Levels

tax reform Bill would reduce the corporate tax rate to 20 percent from 35 percent. The bill will be easier and less costly for American businesses to bring home foreign earnings, says Dynamic Levels.

Dynamic Levels' Market Outlook:

Markets might zoom in 2 months if Trump's tax proposal is accepted


Trump announced his widely expected decision to nominate Federal Reserve Governor Jerome Powell to succeed current Fed Chair Janet Yellen. The House Republican announced tax reform Bill. This Bill would reduce the corporate tax rate to 20 percent from 35 percent. The bill will be easier and less costly for American businesses to bring home foreign earnings.

Individual tax rates for middle income and low income Americans would be zero, 12 percent, 25 percent, and 35 percent while maintaining the 39.6 percent rate for high-income Americans.

NIFTY OUTLOOK & OPEN INTEREST IN INDEX OPTION

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In last 10 days, FII and Pros bought 49290 contracts in Index Options. However in the current expiry, they have a combined buy position of 30931 contracts.

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