Updated: Aug 20, 2018
Today's Market Influencer :
Today Movement - Positive
Asia markets and US market Future Indices are positive Nasdaq is negative on FaceBook results and guidance lower.The oil prices are at $74.44/bbl(0.09%) OPEC shipment are expected to fall by 930K bbl and USDINR at 68.72 ( -0.03%) giving flat opening .
We expect today to be a Positive cause new expiry should begin at new highs and yesterday being expiry day the NIFTY came to being flat as we expected but closed up.
Stock of the Day :
Hindalco Industries Ltd. - Down Level 203/195& Up Level 208/217
Announced acquisition of Aleris through Novielis its subsidiary for $2.6 Bn which will be completed by Oct 2019 and give capacity of 4.6 million tonnes and access to new markets .We might see mixed reaction through the day.
POSITIONAL NIFTY LEVEL :
ALERT : ABOVE 1WEEK LEVEL - YESTERDAY NIFTY CLOSED ABOVE 2 MIN SUPPORT THIS COULD BRING PROFIT BOOKING, THOUGH ON OUR MARKET BUBBLE INDICATOR STILL NO SIGN OF BIG BEAR BUBBLE . WE WILL START BOOKING SOME OF OUR PROFIT IN LARGE CAPS .
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.