Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are positive Huawei restrictions are eased and talks have restarted in some way.The oil prices are at $64.77/bbl(0.95%) as USA inventories come lower than anticipated this fourth week of draw in inventories. USDINR at 68.57(0.00%) as crude prices have been in a range the currency has managed the same with expectations of high debt inflows.
We expect markets to be Neutral to Negative as USA targets India with Tariff threat and flows remain weak though FM has Budget clarification today in parliament at 2pm.
Important Close Level is 11445/640
Stock of the Day :
Interglobe Aviation Ltd. - SELL - Stop Loss 1610/1615 & Target 1500/1466/1413/1340
(IMP : Do not trade if opens at Stop loss/Target levels)
The dispute between the promoters has escalated and reached to SEBI with which any possibility of internal resolution goes out of window. This has been initiated due to related part transactions and corporate governance issues at the company level.
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.