Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are flat, as China is backing from certain offers and Top US negotiating team will visit China on March 25.The oil prices are at $67.50/bbl(-0.16%) and USDINR at 69.03(0.03%) reversal due to crude prices and profit booking.
We expect markets to be Neutral to Positive as FIIS flow continue and there might be some profit booking on currency movements.
Important Day Close Level is 11070/11515
Stock of the Day :
Bodal Chemicals Ltd. - Stop Loss 113/111.5 & Target 119.6/123/126
Bodal Chemical has commenced production at new capacity which is 6000MTPA of dyestuff and increase the total capacity to 35000MTPA. This is ending the short term capex requirement of the company which would increase cashflow now. Thionyl Chemical production plant is also completed for 36000MTPA.
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.