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.