NIFTY LEVELS
ALERT : CLOSE BELOW 10671 ( 1 Day level) Will shift movement to 10291.
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 - Neutral to Negative
Today is Expiry of June , we expect it to be neutral to be negative as Crude Oil touched $78/bbl last night due to Canada , US Crude Draw & Iran announcements.
Even USDINR reached levels of Rs. 68.8 which is highest in recent history and we believe these two issue will be putting macro pressure on market.
There are 46 stocks shifting to physical delivery in July series which would create negative impact on those stocks. Plus SEBI is applying compulsory Exposure margin which will make expensive for speculators to hold on to derivative positions. This might lead to surprise covering in last hour to make markets neutral or positive.
Stock of the Day :
CG Power and Industrial Solutions Ltd. - Down Level 48.8 & Up Level 53.72
This stock has fallen 34% in this series we believe that it has been contributed heavy reduction of positions in derivative segment which will start having physical delivery in July & introduction of compulsory of exposure margin for derivatives.