Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia are negative but Chia delegation is going to meet US President . The oil prices are at $59.95/bbl(0.20%) and USDINR at 71.14(0.10%) as dollar index is flat and crude prices are down which will make rupee strong during day.
We expect markets to be Neutral to Negative as results are coming lower than estimate or inline with slowdown signals.
Important Day Close Level is 10549/10854
Stock of the Day :
Reliance Industries Ltd. - Stop Loss 1184/1168 & Target - 1253/1278
Crude price fell 4.5% overnight given there might negative flows as there are indication of further slowdown with Japan revising its export outlook and China industry profit sliding. Jio handsets accounts for 25% of all Jio Phone users which is expected to 50% by 2020 as upgrades come in.
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.