Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are mixed with positive slightly due to US Data coming out with upside surprise.The oil prices are at $71.01/bbl(0.10%) as OPEC+ said that it is ready to compensate any deficit from July due to Venezuela & Iran drop in output .USDINR at 69.12(0.06%) dollar swap window coming up keeping pressure on dollar exchange.
We expect markets to be Neutral to Positive as Phase I of the elections get over , there still is positive flows from both FII & DII but becoming more stock specific flow.
Important Day Close Level is 11570/11770
Stock of the Day :
Prabhat Dairy Ltd. - Stop Loss 76/4 & Target 81/85
The completed sale of its wholly owned step down subsidiary to Tirumala Milk Products Pvt. Ltd. which happened post slump sale of same business from company to the subsidiary. Though we have Negative rating on the company. But we believe for intraday it will be positive.
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 BOOKED SOME PROFITS AND INCREASED CASH POSITION TO 30%.
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.