Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are mixed as trade talks pessimism comes in and shutdown extends longer . The oil prices are at $61.59/bbl(0.11%) overnight low of $60.56/bbl cause news of Russia Energy Minister missing the Davos came out which was taken as important event for Cuts and USDINR at 71.19(-0.03%) dollar index was flat and crude prices dropped might help it strengthen at open and during day.
We expect markets to be Neutral to Positive as crude prices drop over 3% last night and pre budget expectations are high.
Important Day Close Level is 10727/10951
Stock of the Day :
BPCL Ltd. - Stop Loss 347/340 & Target - 362/367/372
Crude Prices overnight fell by 3% due to a news mentioning that Novak ( Russia Energy Minister) is planning to skip Davos which was crucial from speculators as it was taken that more firm discussion will be taken for production cuts. Lower crude prices benefit BPCL ltd. immediately.
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.