Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are slightly negative as US-China deal is mostly to closed by next Friday.The oil prices are at $71.92/bbl(-0.36%) as today is last day of Iran Waiver and US Inventories came at 9.44mn bbl vs estimates of 1.74mn bbl and USDINR at 69.62(-0.02%) as crude stabilises and dollar index is stable post FED comments.
We expect markets to be Neutral to Positive as crude prices stablises and major results are inline.
Important Day Close Level is 11470/11770
Stock of the Day :
Dewan Housing Finance Ltd. - Stop Loss 130/128 & Target 142/156
Company was able to pay interest on principal of Rs. 838cr to NCD holders which is short term positive though we are Negative on the company but this would create an intraday bounce.
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.