Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are negative as some profit booking coming and US data comes in weak .The oil prices are at $66.91/bbl(-0.06%) with high of 67.15 overnight and USDINR at 71.19(-0.01%) went till low of 71.29 overnight.
We expect markets to be Neutral to Positive as DII buying for month is Rs.6000cr above of which most is getting allocated to MidCap.
Important Day Close Level is 10589/10956
Stock of the Day :
DHFL Ltd. - Stop Loss 132/126 & Target 145/162
Company has entered a share purchase agreement with Pramerica for sale of stake in MF business which is held 17.12% directly by company and 32.88% via subsidiary. Along with this stake sale in Trustee company of MF is also being sold. Though we are negative on the company but we see news based trade for today.
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.