Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia are mixed as trade talks closed but no specific statement came out and shutdown continues. The oil prices are at $61.47/bbl(-0.29%) and USDINR at 70.42(0.05%) dollar index kept
We expect markets to be Neutral to Negative as crude price is back on increasing trend with our targets of $100/bbl intact. India has asked for another waiver for Iran Import.
Important Day Close Level is 10672/10859
Stock of the Day :
Karnataka Bank Ltd. - Stop Loss 111/108 & Target - 119/121/125
Q3FY19 results are to be announced and Profit & NIM growth is to be intact given the treasury income and retail loan focus. Asset quality is expected to remain stable or improve as recoveries increase.
We would be positive for intraday trade.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED NEAR ALL IMPORTANT LEVELS INDICATING THERE WAS NO CLEAR SIGN OR BREAKING THE RANGE . WE SEE SOME UPSIDE WITH GLOBAL MARKETS AND WE HAVE STARTED INVESTED SOME CASH .
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.