Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are mixed and US closed positive. The oil prices are at $56.63/bbl(0.68%) it fell 5% overnight due to API estimates showing build up & global slowdown might impact demand and and USDINR at 70.32(-0.03%) as crude prices reduced the currency gained.
We expect markets to be Neutral to Positive OMCs will gain in trade and there should be some level of anticipation that FED will not hike given the tweet from President.
Important Day Close Level is 10727/10941
Stock of the Day :
Capital First Ltd. - Stop Loss 551/541 & Target - 597/623/640
The merger with IDFC Bank and has been completed and merger is effective 18th December 2018. The record date for the shareholding has been 31st Dec 2018 , the new management has been announced after RBI approvals which is on expected lines.
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.