Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are mixed with positive bias as US-China have agreed on 90% of terms only sticking point is now existing tariffs .The oil prices are at $69.72/bbl(0.35%) as OPEC + output comes lowers than estimated but still Russia is above than estimated. USDINR at 68.88(-0.08%) as second dollar swap window is announced for April 23.
We expect markets to be Neutral to Positive as global markets are up but crude might constraint it.
Important Day Close Level is 11570/11770
Stock of the Day :
Bharat Petroleum Corporation Ltd. - Stop Loss 389/396 & Target 370/361
OPEC+ output came out yesterday which was much lower than estimated and compliance requirement. This was main contributed by Saudi which had output 4 years low level and Sanctions hit countries Iran and Venezuela which are impacting physical markets but Russia is still above than estimated.
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.