Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are negative as trade talks pessimism comes in and shutdown extends longer . The oil prices are at $62.55/bbl(-0.41%) overnight high was near $63/bbl but IMF estimated further slowdown in 2019 and USDINR at 71.19-0.01%) IMF has flagged that Emerging markets are facing slowdown issues and currencies were kept in check.
We expect markets to be Neutral to Positive as there will be anticipation rally pre-budget and results are coming inline.
Important Day Close Level is 10727/10951
Stock of the Day :
HDFC AMC Ltd. - Stop Loss 1455/1436 & Target - 1518/1548/1577
Revenue grew 7.7% YoY & 3.5%QoQ given the reduction in inflows in Oct- Dec quarter specially towards high earning equity funds. Employee expenses saw a slight reduction which is a good sign as it came at 9.6% of sales compared to 10.10% last year. Other Expenses reduced as % of sales from 31% to 20% this is due to SEBI rules distributor commission which has given big boost to profits.
Net Profit came at Rs.243 cr with 25% YoY & 18% YoY.
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 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.