Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive on the G20 meeting which is no set with Xi on Saturday early morning and after that with Putin .The oil prices are at $65.47/bbl(-0.33%) as deal optimism and US inventories showed a draw of 12 mn bbl larger than estimated. USDINR at 69.30(0.16%) as dollar index reduces on the deal possibilities.
We expect markets to be Neutral to Positive as today is expiry day and 34 stocks move out of F&O.
Important Close Level is 11746/906
Stock of the Day :
Coffee Day Enterprise Ltd. - BUY - Stop Loss 220/219 & Target 226.5/229/231
(IMP : Do not trade if opens at Stop loss/Target levels)
As per reports company has entered into exclusive talks with Coca-Cola parent for stake sale in the company. This comes inline with Coca-Cola buying out Costa Coffee globally , though it is not confirmed by the company we take it as slight positive sentiment.
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.