Today's Market Influencer :
Today Movement - Neutral to Positive
Asia markets and US market Future Indices are negative, Nasdaq is negative on Twitter results and US GDP came at 4.1% but Bond yields inverting is making it negative .The oil prices are at $74.77/bbl(0.01%) OPEC shipment are expected to fall by 930K bbl and USDINR at 68.67 ( +0.04%) giving flat opening .
We expect today to be a Neutral to Positive as results are coming better than estimated . FII flows are becoming more positive thus leaving less sellers in the market.
Stock of the Day :
Axis Bank Ltd. - Down Level 542.5/537/530 & Up Level 559/568
Results will be announced today there is stabilisation in Banking Sector NPA on QoQ basis and a positive/negative surprise will result in bigger move either side.
POSITIONAL NIFTY LEVEL :
ALERT : FRIDAY NIFTY CLOSED ABOVE 2 MIN SUPPORT THIS COULD BRING PROFIT BOOKING, THOUGH ON OUR MARKET BUBBLE INDICATOR STILL NO SIGN OF BIG BEAR BUBBLE . WE WILL START BOOKING SOME OF OUR PROFIT IN LARGE CAPS .
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.