Today's Market Influencer :
Today Movement - Neutral to Positive
Asia markets and US market Future Indices are flat and negative respectively. Asia is negative given the China GDP came at 6.7% which slower than Q1.
The oil prices are at $72.14/bbl (+0.18%) up from the low of $71.84 which was overnight low , there was a big drop in oil prices as US mentioned that Oil buyers might get waiver and Saudi has made clear that there are no individual quotas which Iran has opposed to and USDINR at 68.37 (-0.16%) giving it a lower opening.
We expect today to be a Neutral to Positive a big drop in oil prices might support OMCs and other sectors and HUL results came inline which is a it positive.
Stock of the Day :
Ashok Leyland Ltd. - Down Level 123/121 & Up Level 129/133
Result will be announced today which would mostly during market hours.Yesterday government allowed increase in payload by 20-25% which would mean higher income by truck fleet operators and more truck purchases eventually.
POSITIONAL NIFTY LEVEL :
ALERT : ABOVE 1DAY LEVEL - YESTERDAY NIFTY BROKE AND CLOSED BELOW 30 MIN LEVEL. ON OUR MARKET BUBBLE INDICATOR STILL NO SIGN OF BIG BEAR BUBBLE SO WILL HOLD TO OUR INVESTMENTS.
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.