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Today's Market Influencer :


Today Movement - Neutral to Positive


US market Future Indices and Asia are positive as US President hints that he really wants a deal with China.The oil prices are at $62.05/bbl(0.75%) as Venezuela sanctions hits exports to US halved and USDINR at 71.16(-0.11%) .


We expect markets to be Neutral to Positive as flows in ETFs continue and trade deal hope rises.


Important Day Close Level is 10861/111234


Stock of the Day :


Axis Bank Ltd. - Stop Loss 672/657 & Target - 715/ 730


SUUTI will be selling 1.98% of its stake via OFS and has option to sell further 1.02% if demand permits. This is positive as it shows government has no reason to hold on to SUUTI stakes in AXIS & ITC . Plus it give more non-government control say in the bank in terms of voting rights.


We would be positive for intraday trade.


POSITIONAL NIFTY LEVEL :


NIFTY LEVELS



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.