Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are negative US passed Spending Bill to avoid another shutdown and President Trump is expected to sign a executive order for $8Bn spending to diverted to border wall construction .The oil prices are at $64.75/bbl(0.28%) and USDINR at 71.27(0.29%) .
We expect markets to be Neutral to Positive though India last night faced one of deadliest attack on its forces , we still believe most of result season over will bring in a bounce in index as DII starts participating.
Important Day Close Level is 10758/111234
Stock of the Day :
Jet Airways Ltd. - Stop Loss 208/202 & Target - 236/245
Jet Airways posted a loss of Rs.588cr compared to profit of Rs.168cr . Most important news which came post results was on Lenders Resolution Plan got approval from the board . Post this plan lenders will hold 50.1% in the company with board seats. According to report there is requirement of Rs. 8,500cr which is needed to funds the gap which will be done via equity fusion and debt restructuring . We are negative on the company for fundamental reasons but for short term this news will provide clarity which was needed.
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.