Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are negative, Head of Negotiations from USA has mentioned that more work needs to be done regarding the trade deal .The oil prices are at $66.38/bbl(-0.30%) as US Inventories came at -8.65million bbl against estimate of 3million bbl. USDINR at 71.27(0.04%) as tensions rise within India & Pak which we think will go diplomatic route now.
We expect markets to be Neutral to Positive as FIIs buying still continues given the odds of current government increased and we believe now diplomatic pressure will be increase on Pakistan and till then military action might be paused.
Important Day Close Level is 10589/10956
Stock of the Day :
Jet Airways Ltd. - Stop Loss 234/243 & Target 214/202/190
Jet Airways seven aircrafts have been grounded due to non-payment of lease amount. There will be another seven grounded by next week if nothing incremental comes , this will make one-third of fleet grounded. Lenders also met Jet & Etihad management but no resolution was agreed on and are to meet further. Etihad has an upper hand in discussions which we believe some lenders are finding hard to agree.
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.