Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are negative.The oil prices are at $63.78/bbl(0.13%) and USDINR at 70.87(0.01%) .
We expect markets to be Neutral to Positive as there is low volumes in market which are dragging it down that can have upside risk due to some positive news.
Important Day Close Level is 10758/111234
Stock of the Day :
DHFL Ltd. - Stop Loss 113/115 & Target - 103/98
CEO has filed his resignation at crucial juncture where continuity is most important and this resignation raises more questions from investor community. Second is Bank of Baroda has appointed KPMG for forensic audit of the company as it has maximum exposure of Rs. 4000 cr which was not an issue as per BoB last management interaction.
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 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.