Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are negative US President threatened with new set of tariffs as US-China talks were progressing slowly.The oil prices are at $69/bbl(-2.48%) as US-China deal outlook gets big setback and USDINR at 69.18(0.00%) as crude softens so does the currency.
We expect markets to be Neutral to Negative as the new tariff news will impact us also in short term.
Important Day Close Level is 11470/11770
Stock of the Day :
Bharat Petroleum Corporation Ltd. - Stop Loss 375/371 & Target 383/389/394
Due to the new escalation of tariffs by USA there has been news of China cancelling its trip to US for further talks this week. This has direct impact on Crude Oil prices which has broken crucial level of $70/bbl. Such a big drop benefits OMCs specially when Saudi imports are going to increase.
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.