Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are negative as USA president said would not meeting China counterpart before March 1 deadline .The oil prices are at $61.40/bbl(-0.39%) saw slide down due to meeting announcement and USDINR at 71.40(0.11%) as crude slide down.
We expect markets to be Neutral to Positive as MPC has give rate cut , scope for more rate cut by neutral stance, stimulus to agriculture by increasing collateral free loan limit and bond limit removal.
Important Day Close Level is 10861/111234
Stock of the Day :
Reliance Industries Ltd. - Stop Loss 1275/1265 & Target - 1330/1345
Brookfield is interested in Reliance Jio Tower Infra Asset as the company looks to monetise it for reducing the debt on consolidated level and this would result in lowering concern of other investors.
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 20% 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.