Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive, as US-China important leaders have conversation late last night and Japan has downgraded overall growth rate .The oil prices are at $67.29/bbl(0.09%) as there are rumours of delay in US-China deal and USDINR at 69.30(-0.07%) as crude price reduces and USDINR swap news helps the flow.
We expect markets to be Neutral to Positive as FIIs buying continues but has slowed down day on day basis where DIIs selling stable but we believe now Advance Tax selling is past it may reverse from today.
Important Day Close Level is 11070/11378
Stock of the Day :
CMI Ltd. - Stop Loss 148/145 & Target 162/169
Got Vendor approval for providing power cables , optical fibre to companies like Power Grid, Airport Authority of India ,JNPT which would help increase its capacity utilisation at Baddi Plant which will create operating leverage in financials.
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.