Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are up as the hong kong protest over weelend went peacefully . The oil prices are at $61.77/bbl(0.24%) as Saudi changes the energy ministry with first ever royal family member who has been in ministry since 2004 . USDINR at 71.65(0.03%) as crude spikes the FII selling in derivatives is reduced.
We expect markets to be Neutral to Positive as the ground data is getting worse annd FII selling in cash continues but they turn positive on index.
Important Close Level is 10677/11257
Stock of the Day :
ZEE Entertainment Ltd. - BUY - Stop Loss - 352 & Target - 373/380
(IMP : Do not trade if opens at Stop loss/Target levels)
Paid off Rs.4,450 cr to MFs & NBFCs which is one third of the full amount owed this is after selling stake in the company to an FII . Though we are negative on the company there should be a bounce today.
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.