Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive as China communicates that considerable progress has be made and Xi wants early conclusion.The oil prices are at $69.16/bbl(-0.19%) and USDINR at 68.97(-0.08%) as rate cut was announced but no stance changed and second dollar swap window is announced for April 23.
We expect markets to be Neutral to Positive as RBI has hinted for further rate cuts and open to more liquidity measures along with revision of Feb 12 circular.
Important Day Close Level is 11570/11770
Stock of the Day :
Titan Company Ltd. - Stop Loss 1080/1060 & Target 1136/1149/1165
Company released FY19 growth data with total revenue growing at 21%. Jewellery segment grew at 22% with 90,000 sq ft addition which is one of the biggest addition in recent times. Watches segment grew at 16% with new launches and has become higher contributor to incremental EBITDA as online sales are increasing.
Outlook for FY 20 is 20% for overall business despite given the higher base.
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.