Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are mixed with bias positive but there are concerns as G20 meetings begins .The oil prices are at $65.72/bbl(0.29%) as Kuwait and Iraq confirmed that rollover of cuts is priority but level is not decided. USDINR at 69.06(0.02%) currency is seeing swift appreciation even though crude price increases and dollar index is stable.
We expect markets to be Neutral to Positive as July series begin there is always high return month but there are many events at start of series but flows are positive for now.
Important Close Level is 11746/906
Stock of the Day :
ZEE Ltd. - BUY - Stop Loss 347/351 & Target 335/330/322
(IMP : Do not trade if opens at Stop loss/Target levels)
SEBI yesterday at board meeting decided that any standstill agreement with companies and mutual funds are not recognised by the regulator and are null and void. ZEE came with standstill till Sept 2019 for stake sale of the company which gets impacted.
We would be negative 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.