Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices are positive and Asia Indices are negative as China has retaliated to some extent but USA is positive on US President comments that he expects it to be successfully closed in 3-4 weeks.The oil prices are at $70.33/bbl(0.59%) as Middle East crisis brew higher and USDINR at 70.57(0.04%) as crude remains near $70/bbl and FII selling puts pressure.
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 10983/11352
Stock of the Day :
HDFC AMC Ltd. - Stop Loss 1597/1613 & Target 1558/1522
SEBI has sent the company Show Cause Notice on non-payment of FMP maturities to investors on Essel group non payment of dues. The regulator has asked for details of various exposures and the reason of such actions.
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 DOWNSIDE WITH GLOBAL MARKETS ALONG WITH ELECTIONS RESULTS CLOSE AND WE HAVE BOOKED SOME MORE PROFITS AND INCREASED CASH POSITION TO 45% FROM 40%.
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.