Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are negative, as US Team will go on March 28 and 29th for further talks on trade deal.The oil prices are at $67.62/bbl(-0.32%) US Inventories showed surprise draw of 9mn bbl vs estimates of build up of 1.2mn bbl and USDINR at 68.69(0.02%) stronger rupee on FED decision.
We expect markets to be Neutral to Positive as FIIs flow continue and there might be some profit booking on currency movements.
Important Day Close Level is 11070/11589
Stock of the Day :
State Trading Corporation of India Ltd. - Stop Loss 130/128 & Target 138/144/147
Company received payment of Rs. 2,210 cr from one of its largest debtor Global Steel Holdings Ltd. which was due during 2008-2010 GSH went through financial crisis but the court directed GSH to pay Rs.1,650 cr with interest from start of due.
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.