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Today's Market Influencer :


Today Movement - Neutral to Negative


US market Future Indices and Asia Indices are negative as all options under BREXIT are rejected by parliament and USA data comes lower sending 10 year yield again to lower levels and creating spread (3m-10y) of 11bps .The oil prices are at $67.00bbl(-0.42%) as VUS inventory came higher as expected at 1.2 mn bbl and USDINR at 69.10(0.10%) as dollar swap ended and liquidity of dollar in system reduced.


We expect markets to be Neutral to Negative as there will be slower FIIs which will restrict upside and some amount of profit booking on index and largecap stocks.


Important Day Close Level is 11070/11589


Stock of the Day :


Escorts Ltd. - Stop Loss 815/807 & Target 834/848


IMD Forecasts that monsoon is to be a robust and healthy one as El Nino phenomenon is low risk as of now. Monsoon arrival in Kerala by 1st June which creates a shorter summer. Though it is too early but this forecast helps tractors or rural based companies with investor anticipation.


We would be positive for intraday trade.


Sheela Foam Ltd. - Stop Loss 1218/1200 & Target 1273/1313


OFS for non-retail was subscribed at 2.5x resulting in receiving bids for 1.05cr shares against the actual quantity of 42.33 lakh shares this show excess demand which might be pushed in open market given the valuation is at 2017 lows.


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.