Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive as US-Japan want the trade talks to finish soon and move swiftly though US-China trade talks are no where close to restart.The oil prices are at $68.73/bbl(-0.06%) as OPEC+ supply issues keep hold on prices even post US-China deal uncertainty and USDINR at 69.69(0.29%) higher crude prices has shown some reversal but FII buying keeping the reversal limited.
We expect markets to be Neutral to Positive as election results have come out positive which will bring in flows from FIIs.
Important Day Close Level is 11575/12035
Stock of the Day :
InterGlobe Aviation Ltd. - Stop Loss 1610/1560 & Target 1710/1750
Q4FY19 results were better than estimated given the higher operational efficiency. Increase in international revenue to 13.6% of total revenue and addition of 4 aircraft during quarter help beat the estimates. Though we are medium and long term neutral on the company.
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 UPSIDE WITH FIIs BUYING AROUND 55,000-60,000cr DURING POST ELECTION WHICH WOULD BRING BIG UPSIDE IN MIDCAPS TOO. REDUCE CASH ALLOCATION TO 25%.
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.