Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices is negative and Asia Indices are positive, as US-China important leaders might meet in April sometime to sign the deal.The oil prices are at $66.96/bbl(-0.15%) as there are rumours of delay in US-China deal and USDINR at 68/97(0.01%) as crude price reduce and trade deficit narrowed than estimated.
We expect markets to be Neutral to Positive as FIIs buying is continuing with high momentum and trade deficit narrowed more than estimated.
Important Day Close Level is 11070/11515
Stock of the Day :
Bandhan Bank Ltd. - Stop Loss 522/530 & Target 501/486
RBI has given in-principle approval to HDFC Ltd. to hold maximum 9.9% in the bank post merger with Gruh Ltd. against 15% which was original request from HDFC ltd. This would mean they have sell 5% stake immediately and this would keep pressure on Bandhan Bank as promoters have to further dilute the stake.
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.