Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are negative, As China mentions that Currency valuations cannot be part of trade deal.The oil prices are at $65.79/bbl(0.14%) as global slowdown growth more visible and USDINR at 70.01(-0.00%) as crude prices are also stable.
We expect markets to be Neutral to Positive as Elections dates get announced and FII buying continues along with higher block deals taking place.
Important Day Close Level is 10820/11145
Stock of the Day :
CG Power & Industrials Solutions Ltd. - Stop Loss 35/34.3 & Target 37.5/38.9/41
Company has divested its power business in USA and automation business in Spain along with closure of seven subsidiary which is part of its consolidation plan. The non-cash impact of such transaction is to be Rs. 200 cr on Q4FY19 consolidated financials. Though medium term and long term we are negative but due to such steps it makes a positive view for today on news based.
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.