Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are mixed as Google was main to drive S&P rally overnight and is down post market . The oil prices are at $62.72/bbl(0.36%) and USDINR at 71.69(0.00%) as crude prices remain high and worry on fiscal target persists.
We expect markets to be Neutral to Positive as Budget was good on all parameters there are some worries on meeting the fiscal target but we believe major concern is stability of future government.
Important Day Close Level is 10651/10963
Stock of the Day :
ZEE Ltd. - Stop Loss 354/364 & Target - 332/327/317
SEBI has called on MFs CEOs to understand how they have reached a formal agreement with company and lapses in judgement. Promoter group have themselves made lenders sign agreement on not selling company shares but promoters themselves in the same week have sold 2.53% of ZEE Ltd. stake which is even more suspicious that holding minority stake status quo while selling own stake.
We would be negative 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 WHICH IS AT 30% LEVEL AS OF NOW.
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.