Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia are negative as trade talks closed but no specific statement came out and shutdown continues. The oil prices are at $60.96/bbl(-0.78%) as US Inventories came at -1.68Mn barrels vs estimate of -2.4 Mn bbarrels and USDINR at 70.54(0.05%) as crude spikes and dollar index gains strength on trade talks.
We expect markets to be Neutral to Negative 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 :
TCS Ltd. - Stop Loss 1853/1812 & Target - 1920/1960/1986
Q3FY19 results are to e announced today with estimate of slight improvement on QoQ but we believe as the large contracts won an year back would start coming into revenue more meaningful there will be above estimate results with cash back to investor through buyback and dividend.
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.