Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are negative, ECB has estimated 1.1% growth for the year and New York Times reported some Chinese official wary of quick trade deal.The oil prices are at $65.88/bbl(-0.21%) as global slowdown growth more visible and USDINR at 70.18(-0.06%) overnight high of 69.91 was seen first time after two months.
We expect markets to be Neutral to Positive as we are decoupled from global markets since start of this year.
Important Day Close Level is 10820/11145
Stock of the Day :
KNR Construction Ltd. - Stop Loss 229/225 & Target 243/258
Company received two orders total worth Rs.1050 cr which 68% of total order book as of Dec'18. This is big order win for the company and as of now it has not faced much cashflow issues and receivables. This will take order book to Rs. 2590cr.
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 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.