Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive, China deal comes more of reality and Britain was able to clinch changes in Brexit deal.The oil prices are at $66.85/bbl(0.42%) as SAUDI announces deep cuts in April and USDINR at 69.75(0.04%) as FIIs pick up speed and increase the capital inflow.
We expect markets to be Neutral to Positive as Elections dates get announced and FII buying continues along with higher block deals taking place.
Important Day Close Level is 10985/11234
Stock of the Day :
Dewan Housing Finance Ltd. - Stop Loss 138/142 & Target 121/117
Independent Director resigned effective 31st March 2019 . The concerned director was re-appointed on 4th March 2019. This puts more pressure on the company as already it has face downgrades on Rs. 1.1 lakh cr debt which have risk of another level of downgrades as loan growth visibility is diminishing as funding squeeze increase.
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.