Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices negative as China downplays the talks saying that it will hope for better approach from USA.The oil prices are at $63.61/bbl(-0.86%) and USDINR at 69.29(0.03%) as crude softens and dollar index is softening as well.
We expect markets to be Neutral to Positive as FII & DII small buyers in the market and maintained the buying trend in selective stocks.
Important Close Level is 11640/770
Stock of the Day :
Piramal Entp. Ltd. - BUY - Stop Loss 1880/1870 & Target 2002/2065
(IMP : Do not trade if opens at Stop loss/Target levels)
Company is planning to launch an overseas bond of $400Mn and also planning to sell 20% in Shriram Capital after divesting its stake in SHTFin recent. This would help create liquidity for 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 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.