Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive, as China and US fix up further trade issues relating to follow up meetings.The oil prices are at $66.62/bbl(0.38%) USA SPR of 5million bbl is offered to be released to meet the oil demand of USA. USDINR at 70.82(0.01%) as ease of tensions and Pakistan given diplomatic pressure there has been some relief and lower GDP will increase odd of further rate cut.
We expect markets to be Neutral to Positive as GDP came lower which builds case of stronger rate cut in April but increase in China A shares weight in MSCI Index is risk to FII flows.
Important Day Close Level is 10589/10956
Stock of the Day :
ABB India Ltd. - Stop Loss 1190/1175 & Target 1260/1310/1350
Dec'18 results are to be announced today as per global presentation the order growth for this quarter has been 19% and this is best quarter for the company but if prior quarters also have been better YoY we believe this quarter will be better QoQ & YoY.
Fame II policy was approved by cabinet in which 2700 EV chargers are to be deployed in metro cities for that subsidy will be provided and due global tech already with company and pilot already done we expect company to benefit first from this advantage.
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.