Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are mixed, as China and USA close to deal finishing and China Premiere has schedule blocked for 20-29th March for a seminar in Mar-A-Lago But China has downgraded GDP estimates .The oil prices are at $65.62/bbl(0.00%) as per sources OPEC+ is only willing to revise the cuts and extend timeline at June meeting not in April. USDINR at 70.91(0.01%) as tensions between countries reduce to some extent and crude is stable as of now.
We expect markets to be Neutral to Positive as rate cut odds have increase for April and US-China deal is closing in. Markets will open gap down as US president has issued an intent to terminate India tariff benefits under special scheme for developing countries.
Important Day Close Level is 10589/10956
Stock of the Day :
BHEL Ltd. - Stop Loss 65/63.5 & Target 69.7/71.2
FAME II has included benefit of 2700 EV chargers during the period of three years which could be revised upwards.
In relation to this company has inaugurated Solar powered EV charges first batch for Delhi-Chandigarh highway yesterday. The stretch is 250Km and will have charges at regular interval policy requires minimum at 3 Km stretch which creates 80 charges on one side potential. It involves design , manufacturing to other functions.
Company also has manufacturing of Solar PV chips also coming up which takes into fully integrated company and they already have EV chargers at Udyog Vihar in New Delhi.
We would be positive for intraday trade.
POSITIONAL NIFTY LEVEL :
NIFTY LEVELS
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.
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