Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are positive . The oil prices are at $62.88/bbl(0.06%) tankers from Venezuela have halted as sanctions take effect and USDINR at 71.47(0.02%) as crude spikes and fiscal deficit is is discussed by analyst community.
We expect markets to be Neutral to Positive as Budget was good on all parameters there are some worries on meeting the fiscal target but we believe major concern is stability of future government.
Important Day Close Level is 10651/10963
Stock of the Day :
DHFL Ltd. - Stop Loss 116/125 & Target - 95/87
CARE/ICRA/CRISIL have put debt instruments negative watch along with rating downgrade worth Rs. 1,00,000 cr even though company has sold its stake in a promoter related company to Blackstone which will help in raise small amount to support payments. This downgrade will impact debt yields at open and result more harm to equity investors.
We would be negative 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.