Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are flat as US-Japan trade talks continue over weekend .The oil prices are at $67.52/bbl(0.09%) and USDINR at 69.37(0.01%) lower crude and FIIs buying helped the lower currency.
We expect markets to be Neutral to Positive as election results have come out positive which will bring in flows from FIIs.
Important Day Close Level is 11575/11980
Stock of the Day :
Manpasand Beverages Ltd. - Stop Loss 114/116 & Target 99/90/89
Over weekend GST department of Gujarat raided various locations of the company and found around Rs.300cr fake invoices which helped avoid Rs.40cr GST and in this relation MD, CFO and Chairman have been under judicial custody. Also the Non-Executive director Vishal Sood has resigned citing the same incident.
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.