Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are negative as China is visiting USA but tension is rising.The oil prices are at $70.31/bbl(0.62%) and USDINR at 69.60(0.02%) as crude remains above $70/bbl..
We expect markets to be Neutral to Negative as FIIs selling continues and global sell off extents with uncertain outcome of Indian Elections.
Important Day Close Level is 11470/11770
Stock of the Day :
Escorts Ltd. - Stop Loss 655/664 & Target 637/628/610
Company has guided for 5%-8% FY 20 growth with weaker Q1FY20 compared to double digit growth guidance earlier. This would not justify the current valuations and the Q4FY19 was miss on all counts.
We would be negative 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 MORE PROFITS AND INCREASED CASH POSITION TO 40% FROM 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.