Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are flat as US- China negotiations continue and US-NK meeting is planned for month end.The oil prices are at $61.44/bbl(-1.10%) and USDINR at 71.16(0.11%) .
We expect markets to be Neutral to Positive as flows are positive with stock specific negative which impacts the NIFTY index.
Important Day Close Level is 10861/111234
Stock of the Day :
Future Retail Ltd. - Stop Loss 440/449 & Target - 417/402
Amazon has put on hold the proposal to acquire a stake in the group related entities due to new FDI norms which does not allow marketplace to sell products of company in which it has stake more than 25%. This is big negative for the Future Group as it is facing liquidity issue and amazon deal was supporting the future cashflow.
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 20% 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.