Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are mixed trade talks progress and shutdown solution is being taken out . The oil prices are at $60.83/bbl(-0.18%) Russia production according news has seen slight increase till date and USDINR at 71.23(0.07%) 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 are flat and Piyush Goyal named Interim Finance Minister presenting Interim budget.
Important Day Close Level is 10727/10951
Stock of the Day :
United Spirits Ltd. - Stop Loss 574/564 & Target - 591/601/611
Q3FY19 results were announced indicating a higher volume growth continuing specially in premium segments with revenue growing 9% Yoy & 9% QoQ. EBITDA is sequentially lower to 4.48% from 6.07% but up YoY from 3.82% as it higher spend quarter and raw material prices showed reversal. PAT grew 43% YoY to 2.48% PAT Margin compared to 1.89% 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.