Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive as US China have reached phase one deal in-principle though there is no official announcement . The oil prices are at $64.64/bbl(0.43%) as trade deal news provides optimism. USDINR at 70.57(-0.01%) as crude spike but Dollar index is lower
We expect markets to be Neutral to Negative.
Important Close Level is 11738/12240
Stock of the Day :
Dr. Reddy Laboratories Ltd. - SELL - Stop Loss - 2950 & Target - 2860/2800/2770
(IMP : Do not trade if opens at Stop loss/Target levels)
One of the competitor has got USFDA approval for a generic drug for which the company received approval 8 months back is a Billion dollar drug but now due to competition that might further enhance there will be change in estimates.
We would be negative for intraday trade.
POSITIONAL NIFTY LEVEL :
NIFTY LEVELS -
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.