Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are positive as USA President holds off Mexico tariff hikes and makes claim that US-China deal will happen.The oil prices are at $62.44/bbl(1.22%) as tariff hike postpones and China deal optimism comes back. USDINR at 69.18(0.09%) reversal in crude prices and FII selling is limited due to RBI policy rate cut and dovish stance.
We expect markets to be Neutral to Negative as RBI rate cut speculative trade gets out and focus on stock specific move.
Important Close Level is 11770/11940
Stock of the Day :
Indiabulls Real Estate Ltd. - BUY - Stop Loss 127/125 & Target 144/147
(IMP : Do not trade if opens at Stop loss/Target levels)
As per news reports the promoter will be selling his stake to Blackstone-Embassy JV at company valuation of Rs.7000cr which is at premium of 18% as per yesterday close. It will also trigger open offer to public shareholders post transaction is completed in 4-8 weeks.
We would be positive 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 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.