Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices are positive, Nasdaq is negative on Tech Sell off continuing . Asia indices are negative as this week Central bank meetings are scheduled .The oil prices are at $75.44/bbl(-0.13%) and USDINR at 68.71 ( +0.02%) giving flat opening .
We expect today to be a Neutral to Neutral as Wednesday and Thursday are Central banks meetings which should result in some profit booking prior to these meetings.
Stock of the Day :
UPL Ltd. - Down Level 636/617 & Up Level 657/687
Results will be announced today June Quarter is best for the company and March has already shown big EBITDA margin jump 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.