Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia are mixed . The oil prices are at $55.76/bbl(0.36%) this post release of OPEC numbers for Dec 2018 which showed total cut of 530K b/d and USDINR at 70.06(-0.08%) dollar index was flat.
We expect markets to be Neutral to Negative as crude is up this week and farm relief package is weighing on the fiscal outlook for the year. Govt. is considering DBT to farmers with Rs4000/acre.
Important Day Close Level is 10611/10745
Stock of the Day :
Torrent Power Ltd. - Stop Loss 254/248 & Target - 266/270/275
Company has won the rights to distribute power in Thane with three sub stations and having consumers of total 2.15 lakh. This will boost the revenue and financials as the network has low T&D losses compared to Mumbai and a lot of industrial users.
We would be positive for intraday trade.
POSITIONAL NIFTY LEVEL :
NIFTY LEVELS
ALERT : PREVIOUSLY NIFTY CLOSED BELOW ALL IMPORTANT LEVELS INDICATING FRESH SHORTS THIS WOULD BE RESULTING IN ANOTHER FALL WHICH DOES NOT GET STOPPED AROUND 10600 WILL ACCELERATE. WE HAVE STARTED INVESTED SOME CASH .
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.
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