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Today's Market Influencer :


Today Movement - Neutral to Positive


US market Future Indices and Asia Indices are negative as USA imposes 5% tariff on all goods imported from Mexico.The oil prices are at $64.64/bbl(-0.65%) due to the tariff hike and USA inventories showing lesser draw than estimated. USDINR at 69.99(0.36%) lower crude and FII turned positive.


We expect markets to be Neutral to Positive as Council of ministers are sworn in and FIIS turned buyers.


Important Day Close Level is 11575/12035


Stock of the Day :


Bharti Airtel Ltd. - BUY - Stop Loss 341/338.8 & Target 352/356

(Due to USA impact it might open gap down)


The rights issue was subscribed 105.6% and post that the company released the ARPU which came at Rs.123 which was according to our expectations with 18.3% growth QoQ which is biggest growth since listing.


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 UPSIDE WITH FIIs BUYING AROUND 55,000-60,000cr DURING SIX MONTHS POST ELECTION WHICH WOULD BRING BIG UPSIDE IN MIDCAPS TOO. REDUCE CASH ALLOCATION TO 25%.


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.