Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are mixed as US Closed in green as Pension Fund buying continued and it was also mentioned by Pension Fund Manager on CNBC. The oil prices are at $53.67/bbl(1.84%) and USDINR at 70.05(0.02%) dollar index was flat and crude down.
We expect markets to be Neutral to Positive as Pension Fund buying for year end shift continues. Crude prices have come down and Rupee has been flat.
Important Day Close Level is 10685/10835
Stock of the Day :
Kansai Nerolac Ltd. - Stop Loss 471/457 & Target - 489/498/508
Crude prices reduced by 3% overnight and since December month crude price have reduced which will be positive for Q3FY19 results. It has announced acquisition of Perma Construction Aids for 29cr , this company is into construction material products which creates a new segment for the company. They clients like Godrej , Birla Century and others.
We would be positive for intraday trade.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 1WEEK, 30MIN BUT ABOVE 2MIN & 1 DAY FOR US AS IT HAS CROSSED BELOW 1WEEK THAT IS CRUCIAL AS THIS LAST WEEK FOR THE YEAR ALGOS ARE MORE ACTIVE AND WE HAVE CREATED CASH AND WOULD WAIT FOR LOWER LEVELS TO DEPLOY.
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.