Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia indices are negative as Coronavirus spread reaches 7000+ confirmed cases in China and FED held the rates with Repo operations to continue till April. The oil prices are at $58.26/bbl(-1.09%) as China GDP can be more than 0.5% to 1% and demand can go down drastically. USDINR at 71.31(0.00%) crude is still in lower range and FII selling is putting pressure on the currency as well.
We expect markets to be Neutral to Positive as Budget anticipation rally will continue at new high along with new money getting attracted in broader market.
Important Close Level is 11894/12460
Stock of the Day :
Pidilite Ltd. - BUY - Stop Loss 1450 & Target - 1525/1560
(IMP : Do not trade if opens at Stop loss/Target levels)
Company posted strong results with better gross margins due to lower raw material costs. Industrial segment revenue up by 10% and overall volume growth strong at 13%.
We would be positive for intraday trade.