Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive as USA delays tariff hike onn certain products due to Christmas season and decide to have call in next two weeks.The oil prices are at $60.74/bbl(-0.91%) there was 5% price spike due to trade war de-escalation . USDINR at 71.42(0.00%) as crude spikes and FII restart selling after no announcement.
We expect markets to be Neutral to Positive as Govt. release details of credit guarantee backed purchases by PSB of NBFC pool accounts for Rs. 1,00,000 cr.
Important Close Level is 10677/11257
Stock of the Day :
Manappuram Finance Services Ltd. - BUY - Stop Loss 114/113 & Target 120/124/125.5
(IMP : Do not trade if opens at Stop loss/Target levels)
AUM growth came at 3.9% qoq & 22% yoy along with NIM at 15.7% Vs 15% qoq. Asset quality reduced a bit as GNPA rose to .71% Vs .55% qoq . PAT came at Rs. 270 cr Vs. Rs.264cr.
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. INCREASE CASH ALLOCATION TO 50%.
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.