Front-Run


Today's Market Influencer :


Today Movement - Neutral to Positive


US market Future Indices and Asia Indices are positive as US-China restart trade talks today and scheduled meeting at G-20 with the heads.The oil prices are at $62.12/bbl(-0.03%) as Trade talk optimism returns and OPEC+ proposes the date for next meet. USDINR at 69.48(0.04%) as ECB points at further easing and dollar index lowers.


We expect markets to be Neutral to Positive as ECB points at further easing , trade talks return and FED meet ends tonight with expectations of dovish tone.


Important Close Level is 11620/740


Stock of the Day :


NMDC Ltd. - BUY - Stop Loss 104.3/103 & Target 107.5/109.9

(IMP : Do not trade if opens at Stop loss/Target levels)


Iron Ore prices in China are up by 5% as trade talks restart with heads getting involved. Company production came higher at 3.04MT compared to 2.12MT in May 2018 even though its Donimalai faced production outage. And Sales was up to 3.37MT compared to 2.31MT in May 2018.


We would be positive for intraday trade.



POSITIONAL NIFTY LEVEL :


NIFTY LEVELS




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.