Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive as US-China would officially restart the talks at G20.The oil prices are at $64.98/bbl(1.08%) as deal optimism comes back and USDINR at 69.40(0.14%) as dollar index rises and Euro declines.
We expect markets to be Neutral to Positive as FII & DII buyers in the market and maintained the buying trend in selective stocks.
Important Close Level is 11691/825
Stock of the Day :
Dewan Housing Finance Ltd. - BUY - Stop Loss 77.8/80 & Target 73/71.9/69.6
(IMP : Do not trade if opens at Stop loss/Target levels)
The company yesterday did part default of amount to Rs.225cr and paid Rs.150cr. It is expected to pay the remaining amount in seven days grace period. This is second default in 2 months as the payments go large the chances of default increases it has been already downgraded.
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 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.