Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are mixed with positive Huawei ban is give grace period of 90 days .The oil prices are at $72.17/bbl(0.28%) as Russia is inclined to relax OPEC+ cuts. USDINR at 69.74(-0.15%) as EXIT POLLS show comfortable majority government to return which helps maintain the policy decision.
We expect markets to be Neutral to Positive as EXIT POLLS show comfortable win for current government with FIIs turning buyers.
Important Day Close Level is 10983/11950
Stock of the Day :
Panacea Biotec Ltd. - Stop Loss 188/186 & Target 198/207
Company has received USFDA approval for an oncology drug manufacturing and supply which is very positive since it helps to diversify into critical care. As earlier it was dependent on WHO contracts.
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 DOWNSIDE WITH GLOBAL MARKETS ALONG WITH ELECTIONS RESULTS CLOSE AND WE HAVE BOOKED SOME MORE PROFITS AND INCREASED CASH POSITION TO 45% FROM 40%.
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.