Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia are negative and US closed in negative with below 2567 level which is important level to trigger hedge fund selling. The oil prices are at $58.97/bbl(0.36%) and USDINR at 71.33(-0.37%) as crude prices reduced the currency gained.
We expect markets to be Neutral to Negative OMCs will gain in trade but there should be some level of profit booking as volumes are low in market and US market has reached 14 month low with FED meeting tomorrow.
Important Day Close Level is 10727/10941
Stock of the Day :
Reliance Industries Ltd. - Stop Loss 1115/1107 & Target - 1137/1150/1156
Crude prices fell by $2/bbl overnight that is a fall of 3% which would help crude users show a positive price change today in trade.
We would be positive for intraday trade.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED ABOVE ALL LEVELS AND IT IS SHOWING MOMENTUM BUT WE WILL BE CAUTIOUS AS THE RALLY IS BEEN LIFTED BY HOPE THAN ANYTHING ELSE. WE WILL BE STAYING INVESTED AND MIGHT PULL OUT SOME LAST INVESTED AMOUNT AT 10950/11000 UNLESS WE SEE DRASTIC CHANGE IN POLICY.
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.