Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are mixed with positive as no new trade tensions arise .The oil prices are at $71.83/bbl(-0.48%) and USDINR at 69.68(0.04%).
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 :
Dewan Housing Finance Ltd. - Stop Loss 132/135 & Target 124/115
Company post market announced that it in view of downgrade of its fixed deposits it has stopped taking any new or renewal amount. And also at same time stop pre-mature withdrawal until emergency situation to balance the liabilities. This is big negative and shows the liquidity pressure company faces which will further reduce the trust of debt investors in the company.
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 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.