Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are positive as China delegation and USA President indicate closer to a trade deal . The oil prices are at $60.91/bbl(-0.36%) sanctions on Venezuela will further tighten the Oil market and USDINR at 71.06(0.14%) as dollar index is up since trade talks have been progressing.
We expect markets to be Neutral to Positive as GDP number were revised , GST collection is above Rs. 1 lakhcr and three PSU Banks are out of PCA. Today will be volatile as budget is there.
Important Day Close Level is 10651/10963
Stock of the Day :
Reliance Industries Ltd. - Stop Loss 1195/1180 & Target - 1247/1270
Government has not extended deadline for FDI rules to be applied in E-Commerce which would restrict companies to sell discounted products by there owned companies. This would push forward Reliance Industries E-Commerce plan and make it profitable since start as the back end of the venture is strong.
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.