Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are mixed on US-China Vice ministers are meeting currently . The oil prices are at $57.49/bbl(0.26%) there was coup attempt in Gabon where USA now has sent troops and USDINR at 69.85(0.03%) dollar index was down.
We expect markets to be Neutral to Positive as trade tensions reduce for a while but crude spike is spoiling the positive trend.
Important Day Close Level is 10672/10859
Stock of the Day :
Gruh Finance Ltd. - Stop Loss 316/325 & Target - 295/285
Merger was announced with Bandhan Bank , which in our analysis were more positive to Bandhan Bank shareholder than Gruh Finance. Due to this merger we see that HDFC Ltd. parentage will remove from Gruh which was driving a high premium and Synergies are rarely to be located as Avg. loan size is Rs. 9.5lakh which is higher than current customer profile of Bandhan Bank.
We would be negative for intraday trade.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED NEAR ALL IMPORTANT LEVELS INDICATING THERE WAS NO CLEAR SIGN OR BREAKING THE RANGE . WE SEE SOME UPSIDE WITH GLOBAL MARKETS AND 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.