Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are flat to positive as Kudlow mentioned that US-China still preparing for trade talks next month.The oil prices are at $60.01/bbl(-0.02%) & USDINR at 71.93(0.00%) as Dollar Index continues the rally & crude prices are strong.
We expect markets to be Neutral to Negative as stimulus hopes fade and FII selling continues.
Important Close Level is 10677/11257
Stock of the Day :
Interglobe Aviation Ltd. - BUY - Stop Loss - 1592 & Target - 1690/1712
(IMP : Do not trade if opens at Stop loss/Target levels)
6 Airports have stopped supply of fuel to Air India which would impact the flying operations on the sector eventually leading to an increase of fares. This would be most beneficial to Indigo as main replacement of these operations.
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.