Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are negative on back of new tariff on EU post WTO case win by USA.The oil prices are at $70.68/bbl(-0.15%) as Russia said it is against uncontrollable price rise and USDINR at 69.28(-0.04%) second dollar swap window is announced for April 23 which will keep currency in check and crude price reduce had positive impact.
We expect markets to be Neutral to Positive as FIIs turned big positive again as flows crossed Rs.1000cr and currency is kept in check.
Important Day Close Level is 11570/11770
Stock of the Day :
Tata Sponge Iron Ltd. - Stop Loss 732/724 & Target 756/765/781
Completed acquisition of Usha Martin including coal power plat of 175 MW , iron ore mine and coal mine. This will boost financials of the company and show higher growth with sustainability. The cost of acquisition is Rs. 4,600 cr which will be paid to the lenders.
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.
Commentaires