ALERT : ABOVE 1DAY LEVEL - NIFTY HAS MAINTAINED WELL ABOVE THE 1 DAY LEVEL OF 10700 . Q1FY19 RESULTS START TODAY WITH TCS & INDUSIND RESULTS IF THE RESULTS THIS QUARTER COME BETTER THAN ESTIMATE (WHICH ARE LOW) THEN WE CAN EXPECT NEW HIGHS.
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.
Today's Market Influencer :
Today Movement - Positive
Asia markets and US market Future Indices are positive. The oil prices are at $78.41/bbl (0.45%) it is mainly due to LIBYA ports being under militants and output dropping at high speed and USDINR at 68.78 (0.19%).
We expect today to be a Neutral to Positive day given TCS & INDUSIND BANK are to report results and they are estimated to perform better QoQ . We also see a slight up day for crude and USDINR which would put a the negative in the market.
Stock of the Day :
Dish TV India Ltd.. - Down Level 72.44/72 & Up Level 73.39/74.6
This is first result post merger of Dish TV & Videocon D2H . The synergies have come in place in the first result itself taking EBITDA Margin to 35% and ARPU to 214 . The merger made the companies profitable o combined basis.