ALERT : ABOVE 1DAY LEVEL - NIFTY LAST PASSED 1WEEK RESISTANCE LEVEL ON OUR INDICATOR AND CLOSED BELOW IT AT 11019. ON OUR MARKET BUBBLE INDICATOR STILL NO SIGN OF BIG BEAR BUBBLE SO WILL HOLD TO OUR INVESTMENTS.
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.
Today's Market Influencer :
Today Movement - Neutral to Negative
Asia markets and US market Future Indices are flat and negative respectively. Asia is negative given the China GDP came at 6.7% which slower than Q1.
The oil prices are at $74.89/bbl (-0.58%) but there is news of LIBYA biggest exploration site cutting down the production by half that may have impact during the day and USDINR at 68.50 (+0.01%) giving it a stable opening
We expect today to be a Neutral to Negative given the Dr Reddy , Infosys Results , DCB Results are negative and some amount of profit booking is suppose to come.
Stock of the Day :
Aurbindo Pharma Ltd. - Down Level 600/596 & Up Level 612.4/617
It has reached an agreement with Apotex International Inc. ( Canada) to acquire its operations and infrastructure in 5 European countries . The total amount to be paid is Euro 74 million for sales of Euro 134 million till March 2018.