Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive as US jobs data surprised upside and China stimulus is adding to momentum.The oil prices are at $70.68/bbl(0.36%) and USDINR at 69.17(-0.09%) second dollar swap window is announced for April 23 thats why the crude price impact is not seen.
We expect markets to be Neutral to Positive as rate cut supports the banks but only drag will be crude prices.
Important Day Close Level is 11570/11770
Stock of the Day :
BPCL Ltd. - Stop Loss 363/368 & Target 346/340/334
Crude prices have breached $70.74/bbl overnight as Libya oil supply might be an issue as fight starts to take over Tripoli. This is will push premium of the oil prices which are already impacted by sanctions. Over weekend there was cut in fuel prices whereas crude prices have gone up only.
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.