Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are negative as there is risk of escalation of Irann - US as Iran exceeds the uranium stock as per 2015 data which is regretted by all nations.The oil prices are at $62.74/bbl(0.14%)as OPEC+ decided to extend the cut period for 9 months with same levels of compliance which disappointed bulls. USDINR at 69.09(0.37%) as geopolitical risk rises but held by fall in crude prices.
We expect markets to be Neutral to Positive as sentimental rally completes but now focus is on Budget announcements.
Important Close Level is 11788/12021
Stock of the Day :
Bharat Petroleum Corp. Ltd. - BUY - Stop Loss 375/372 & Target 385/391
(IMP : Do not trade if opens at Stop loss/Target levels)
OPEC+ decided to extend the cuts by 9 months at same levels which helps cool off crude prices and helps the main importing countries.
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.
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