Today's Market Influencer :
Today Movement - Negative
US market Future Indices and Asia are slightly negative. The oil prices are at $84.74/bbl(0.07%) as Iran exports fall much quicker than anticipated and Kuwait Oil export to US turn zero since Gulf War. USDINR at 73.31 ( 0.01%) will open lower and has seen lowest level of 73.77 last 48 hrs..
We expect today to be a Negative day given crude prices have spiked and Rupee has fallen drastically in past 48 hrs since India market was close yesterday. FII continue to sell heavy in the markets.
Important Day Level is 10956/11049.
Stock of the Day :
Oil India Ltd. - Down Level 216/210 & 227/231
Crude has spike more than $2 per bbl in past 48 hrs on Iran sanctions anticipation and Kuwait exports to US going zero . OPEC is not able to ramp up production as much as expected this will lead to positive day for company.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED ABOVE 30 MIN AND ABOVE 2MIN SUPPORT BUT WE BELIEVE IN SHORT TERM THERE IS A DOWNTURN AND STILL CLOSED BELOW 1DAY AS WE HAD RAISE THE CONCERN THE CORRECTION CAME IN WE BELIEVE THIS IS NOT GOING TO SETTEL SOON WHICH WE RECOMMEND TO CREATE CASH AND WAIT TILL REVERSAL SEEN.
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.