Today's Market Influencer :
Today Movement - No View
US market Future Indices and Asia are negative and US closed in green after algorithm spiked . The oil prices are at $60.17/bbl(0.38%) and USDINR at 72.39(-0.11%) cause of resignation of RBI governor.
We will not provide a NIFTY view , Two critical events are to be factored . One is RBI Governor resigned which is negative in short but positive in medium as it was better option than to increase the rift and issues can be addressed once the new or interim Governor is chosen. Second is five state elections results are due which we believe will go better than exit polls as it would finish the long standing event.
Important Day Close Level is 10245/10595
Stock of the Day :
Reliance Industries Ltd. - Low 1057/1031 & Target - 1091/1130
Crude prices have reduced and it most sensitive to election results.
We would be following result trend for intraday trade.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 30 MIN , 2 MIN , 1 DAY & 1 WEEK . AS IT BREACHES 1 WEEK ON CLOSE THEN WE CAN GO 10,500 AND AGAIN TURN NEGATIVE. WE WILL KEEP OUR CASH POSITIONS STABLE NOW AFTER LOWERING BY 10-15%.
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.