Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are positive as the Trade talks went into the evening of second day. The oil prices are at $59.44/bbl(1.31%) as trade talk shows positive sign the bounce in crude prices is showing stronger signs and USDINR at 70.12(-0.02%) as crude spikes and dollar index gains strength on trade talks.
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 :
DB Corp Ltd. - Stop Loss 164/160 & Target - 173/177/182
Government yesterday increased the advertising pricing by 25% . This is after an increase of 19% in 2013. The calculation which was currently given to newspapers is Rs.31.67 per sqcm of 1 lakh circulation. This benefits more regional newspapers as the price is flat rate and the print cost is low. But in listed space we believe it will benefit DB Corp Ltd. most as the regional reach is very high but since 12-15% comes from this segment the net impact should be 3% revenue increase. It is a short term positive as elections approach.
We would be positive 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.