Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive as China has showed comfort in technology transfer issue in trade deal and Brexit vote today has more visibility .The oil prices are at $67.56 /bbl(0.64%) saw slide due US president tweet but came up as sanctions hitting physical markets hard and USDINR at 69.19(0.04%) as crude and dollar index spikes.
We expect markets to be Neutral to Positive as FIIs flows continue and new series start which will be elections series.
Important Day Close Level is 11070/11589
Stock of the Day :
Motherson Sumi Ltd. - Stop Loss 152 & Target 137/135
Reduction in management guidance as the company would miss 5 year target on lower inorganic growth. Market environment challenges would hurt margins as plant capacities have increased which would lead to higher revenue with lower margin as pricing power reduces.
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.