Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are flat to positive after back and forth from China & USA , The talks in September are still on.The oil prices are at $58.62/bbl(0.50%) as trade war escalation is likely the global growth is an issue . USDINR at 71.81(0.00%) as FII selling is reversed for past couple of days but there has been doubts on growth.
We expect markets to be Neutral to Negative as the policies announcement are facing delay.
Important Close Level is 10677/11257
Stock of the Day :
Titagarh Wagonn Ltd. - BUY - Stop Loss 40/39 & Target 45.5/48.8
(IMP : Do not trade if opens at Stop loss/Target levels)
Titagarh Wagon subsidiary has emerged as lowest bidder for Pune Metro Railways worth Rs. 1,125 cr. This is one of biggest non-government railways project for the company and it is in JV with an MNC.
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.