Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are flat as there was no update on on meeting and FED meeting starts today.The oil prices are at $60.81/bbl(-0.22%) as economic data from countries is pointing to slowdown and OPEC+ meeting date is still undecided. USDINR at 69.78(-0.05%) as there is FII selling in small quantity which impacts the currency.
We expect markets to be Neutral to Positive as India higher tariff imposition impacted on Friday close and Niti Ayog meeting cleared focus on agriculture.
Important Close Level is 11620/740
Stock of the Day :
Interglobe Aviation Ltd. - BUY - Stop Loss 1621/1600 & Target 1675/192
(IMP : Do not trade if opens at Stop loss/Target levels)
Company has given the largest engine order to CFM International worth $20Bn for its 280 Airbus fleet which was having Pratt engines which were resulting in some operational and regulatory issues.
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 SIX MONTHS 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.