Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are mixed with negative as China is still have to commit US Agri purchase before trade talks go to next levels.The oil prices are at $66.44/bbl(-0.05%) and USDINR at 68.53(-0.02%).
We expect markets to be Neutral to Negative there are still liquidity factors still putting pressure on system and SBI has been put a penalty by RBI.
Important Close Level is 11445/640
Stock of the Day :
Dishman Carbogen Amcis Ltd. - BUY - Stop Loss 210/208.5 & Target 219/223
(IMP : Do not trade if opens at Stop loss/Target levels)
GlaxoSmithKline announced positive data in Phase 3 for ovarian cancer drug. Dishman makes the key API which is used in making of this drug. This could boost revenue 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.