Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are flat to positive as China confirms phase one of the deal but still wants talks and brexit draft deal is inn last stages. The oil prices are at $58.95/bbl(0.38%) as trade and brexit start to resolve to certain extent . USDINR at 71.50(0.00%) as fiscal deficit and dollar index rises.
We expect markets to be Neutral to Positive as FII continues to be buyers due to certain block deals but also positive at index level.
Important Close Level is 11165/11535
Stock of the Day :
ACC Ltd. - BUY - Stop Loss - 1467 & Target - 1535/1589
(IMP : Do not trade if opens at Stop loss/Target levels)
The results were above expectations as volume de-grew less than estimate and costs were under control resulting in better EBITDA/tonne and this would help in a relief rally in cement sector.
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 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.