Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are trade talks continue in Washington DC .The oil prices are at $66.61/bbl(0.28%) as Gas (Car Fuel) availability hits in USA due to Venezuela sanctions and USDINR at 71.29(-0.01%) the response of attack will be specific than thought of. .
We expect markets to be Neutral to Positive as GST Council meets today though there are opposition council members requiring physical presence. Last evening Cabinet approved Oil Exploration , National Electronic Policy and increased dearness allowance of govt. employees.
Important Day Close Level is 10589/10956
Stock of the Day :
Selan Exploration Ltd. - Stop Loss 158/155 & Target - 169/175/183
Crude price is on the rise which helps the company as it gets orders from ONGC for exploration sub-contracts. Cabinet announced oil exploration policy changes which will benefit ONGC to tie up with private players in form of JV or block sale for exploration purpose. We expect this to boost Selan Exploration future visibility.
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.