Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive as US-China restart talks and initiate first steps for revival.The oil prices are at $63.41/bbl(-0.64%) as trade talks restart and US Inventories comes with bigger draw than estimated. USDINR at 68.81(0.03%) as crude rises but inflows in debt by FII keep a limit on currency.
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 :
Adani Enterprises Ltd. - BUY - Stop Loss 153/151 & Target 159/161
(IMP : Do not trade if opens at Stop loss/Target levels)
Cabinet yesterday approved PPP model for three airports - Lucknow , Ahmedabad and Mangaluru which were awarded by Adani Enterprises.
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.