Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are positive as Chinese minister concerned will be visiting USA on Feb21-22 to continue the trade talks .The oil prices are at $66.07/bbl(-0.67%) with overnight high of $66.52 bbl/d and USDINR at 71.51(0.15%) is on fiscal concern and rise in crude prices .
We expect markets to be Neutral to Positive as RBI decided to give Rs.28000 to government as dividend and tomorrow GST council meet is there which is expected to address real estate gst structure.
Important Day Close Level is 10758/111234
Stock of the Day :
Indian Oil Corporation Ltd. - Stop Loss 120/117 & Target - 129/132
IOC Ltd. has signed a first annual agreement with USA firm for supply of 60,000 bbl/day starting from April 2019 . This is in move of Iran waiver expiring on 31st March 2019 as the imports are already hurting and prices are expected to move higher.
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.