Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are negative as USA president told that any trade deal is long in process and there is option to impose the tariff hike on $325Bn goods which can be done shortly.The oil prices are at $64.49/bbl(0.19%) as API data shows lower than estimated draw in USA Inventories and Trade deal optimism slides.
USDINR at 68.63(-0.01%) as the crude prices soften and dollar index falls.
We expect markets to be Neutral to Negative there is continuous FII selling and there is negative flows in high valuation stocks.
Important Close Level is 11550/720
Stock of the Day :
DCB Bank Ltd. - SELL - Stop Loss 240/242 & Target 231/228/223
(IMP : Do not trade if opens at Stop loss/Target levels)
NII & Profitability came in lower than estimated along with NIM reducing as cost of funds increase. Asset quality worsen QoQ along with higher provisions and slippages from agriculture and CV segment.
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.