Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are negative and US closed negative as FED dint turn much dovish than expected. The oil prices are at $56.49/bbl(-1.31%) US Inventories came in at -0.5Mn than estimated -2.5Mn and USDINR at 70.64(-0.09%) as FED hiked rates and expects 2 more hikes next year dollar index gained.
We expect markets to be Neutral to Positive with gap down open we expect the buying in to come in as hope rally continues and govt. first time admitted to expect an RBI dividend.
Important Day Close Level is 10864/10941
Stock of the Day :
KPIT Technologies Ltd. - Stop Loss 217/212 & Target - 237/247
Dollar index gained after FED hiked rates and expects two more hikes in 2019. This keeps dollar at strength and IT sector will show gains today given the Rupee is weak.
We would be positive for intraday trade.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED ABOVE ALL LEVELS AND IT IS SHOWING MOMENTUM BUT WE WILL BE CAUTIOUS AS THE RALLY IS BEEN LIFTED BY HOPE THAN ANYTHING ELSE. WE WILL BE STAYING INVESTED AND MIGHT PULL OUT SOME LAST INVESTED AMOUNT AT 10950/11000 UNLESS WE SEE DRASTIC CHANGE IN POLICY.
Note : These are derived from an Internal Indicator and any movement or close below/above Support/Resistance of one time period moves the Support/Resistance to next time period.
Example : if current market levels is below or above 2 min levels then immediate levels to keep watch are 30 Min levels.