Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are positive with US closing a big positive of 2%+ in all indices. The oil prices are at $81.47/bbl(-0.18%) reversal happened because API numbers in US were announced with big draw of -2.1mnb vs build up of 2.5mnb. USDINR at 73.28( 0.08%) will open higher as the trade data and dollar index has gone down .
We expect today to be a Neutral to Positive day , Rupee open is higher but might see much lower during market as oil will spike on US crude numbers. FII continue have become negative again. Today will be bank weekly expiry as tomorrow is scheduled holiday.
Important Day Level is 10480/10690
Stock of the Day :
Reliance Industries Ltd. - Down Level 1111/1106 & 1175/1204
Q2FY19 results will be announced today and might announce to acquire controlling stakes in DEN & Hathway Cable operators to speed up home internet roll out meaning the pre booking is higher than anticipated and will help valuations and give positive day today.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 1WEEK ,1DAY AND ABOVE 30 MIN AND 2MIN SUPPORT , WHICH INDICATES A SLIGHT REVERSAL. BUT WE BELIEVE CLOSE OF ABOVE 10690 WILL BRING NEW LEVEL OF SHORT COVERING AND CAN EXTEND THE BOUNCE . WE WOULD USE THE BOUNCE TO LIQUIDATE FURTHER CASH FOR COMING VOLATILE 3 MONTHS.
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.