Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive as Automotive tariff are to be delayed by 6 month.The oil prices are at $73.34/bbl(1.39%) as the JMMC decided that June will be key for the decision and mostly it will be rollover of cuts. USDINR at 69.34(-1.43%) as EXIT POLLS show comfortable majority government to return which helps maintain the policy decision.
We expect markets to be Neutral to Positive as EXIT POLLS show comfortable win for current government.
Important Day Close Level is 10983/11635
Stock of the Day :
Indiabulls Real Estate Ltd. - Stop Loss 104/102 & Target 111/115/123
Company has proposed to merge the land parcels with the company via amalgamation of Indiabulls land & property ltd. which makes way for higher valuation for sale to achieve banking approval.
We would be positive for intraday trade.
POSITIONAL NIFTY LEVEL :
NIFTY LEVELS
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.
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