Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are negative as USA bans certain Chinese tech companies from raising capital from USA. The oil prices are at $58.05/bbl(-0.33%) as as US-China trade talks and brexit talks are expected to yield positive results . USDINR at 71.22(0.00%) as FII continue to sell and dollar index spiked on US-China issues.
We expect markets to be Neutral to Negative as FII selling will continue and the results will be subdued.
Important Close Level is 10987/11278
Stock of the Day :
Titan Ltd. - SELL - Stop Loss - 1280 & Target - 1220/1200
(IMP : Do not trade if opens at Stop loss/Target levels)
In Q2 update it blamed high gold prices for low sales growth in jewellery segment for the second straight quarter. Eyewear volumes was 28% due one on one offer. Watches also showed a lower growth.
We would be negative 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 DO NOT SEE ANY MAJOR UPSIDE OTHER THAN SOME RELIEF RALLY AS DATA IS STILL SHOWING SLOW GROWTH.
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.