Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are negative as profit booking takes place though current US-China talks have ended.The oil prices are at $70.52/bbl(0.27%) as US-China deal outlook is volatile so does the oil outlook becomes touching overnight low of below $70/bbl and USDINR at 69.43(-0.02%) as crude softens so does the currency.
We expect markets to be Neutral to Positive as crude prices softens and major results are inline.
Important Day Close Level is 11470/11770
Stock of the Day :
Blue Star Ltd. - Stop Loss 676/665 & Target 696/710
Q4FY19 were better than estimated given lower spend other expenses. Segmental wise Unitary Products EBIT margin came at 10.4% compared to 6.7% in March 2018 and Industry Solutions EBIT Margin came at 32% compared to 13% in March 2018. Balance Sheet showed an improvement in terms of inventories coming lower but high trade receivables.
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.