Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are flat to positive as China is planning to increase agri purchase to sweeten the deal . The oil prices are at $62.71/bbl(0.24%) as USA Inventories come with bigger draw than estimated and non recession trade is happening . USDINR at 71.88(0.03%) as crude spikes but FII selling has reduced.
We expect markets to be Neutral to Positive as the ground data is getting worse and FII selling in cash continues but they turn positive on index.
Important Close Level is 10677/11257
Stock of the Day :
Indiabulls Real Estate Ltd. - BUY - Stop Loss - 62 & Target - 67.5/69.6
(IMP : Do not trade if opens at Stop loss/Target levels)
Company has announced its plan to divest majority of its commercial real estate assets worth Rs.4420cr to achieve debt free status. It will create a trade opportunity.
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.