Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are mixed as USA and China talks enter last round with some pending issues.The oil prices are at $71.38/bbl(-0.22%) US President tweet did help take off $3-4/bbl but we still expect a bounce and USDINR at 69.82(-0.01%) as crude softens.
We expect markets to be Neutral to Positive as crude prices softens and major results are inline.
Important Day Close Level is 11470/11770
Stock of the Day :
Bharat Petroleum Corp. Ltd. - Stop Loss 363/360 & Target 380/385/391
Crude has slipped from Friday high of 72.50/bbl when our markets closed to 70.83 yesterday and today when our markets open is at 71.38/bbl though we are positive on crude rally but this short term cool off will push the OMCs and BPCL is set to gain from Iran sanction as it import from Saudi, of which volumes will increase to set off sanction problem.
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 BOOKED SOME PROFITS AND INCREASED CASH POSITION TO 30%.
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.