Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices positive as US-China decide to talk on Tuesday and Iran is added new sanctions with no intention of war.The oil prices are at $64.67/bbl(0.37%) and USDINR at 69.58(0.00%) as crude rises and dollar index is stable with some conflict premium.
We expect markets to be Neutral to Positive as GST Council did not decide on any rate reduction except EV chargers and crude remains high due to tensions.
Important Close Level is 11640/770
Stock of the Day :
Max India Ltd. - BUY - Stop Loss 63.75/63 & Target 66/67.10/68
(IMP : Do not trade if opens at Stop loss/Target levels)
Max Healthcare sold 4.99% of stake in the company to Radiant & KKR for Rs.361cr which is first part of stake sale of 49.97% to the Radiant & KKR at cost of Rs. 3610cr. This will help company deleverage.
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.