Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are positive as US President tweeted that it is very likely that a deal will be reached with China soon. The oil prices are at $59.73/bbl(0.81%) and USDINR at 70.73(-0.08%) dollar index went up on trade talks.
We expect markets to be Neutral to Positive as there would be some respite in crude prices since last night due to china data showing slower pace.
Important Day Close Level is 10672/10794
Stock of the Day :
Eveready Industries Ltd. - Stop Loss 223/226 & Target - 205/192
Promoter are planing to sell stake in the company at a lower valuation. Since last 18 months the cashflow from core business dry cells segment has been used to invest in LED business which is high capex and very low margin. The cashflow in that segments are weak since bulk orders are government orders. We are negative on the transaction and for that we have SELL rating on the stock.
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 WHICH IS AT 30% LEVEL AS OF NOW.
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.