Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are mixed with negative as incremental trade talks are not taking place and there is spike in geopolitical tensions.The oil prices are at $66.58/bbl(-0.48%) and USDINR at 68.56(0.00%).
We expect markets to be Neutral to Negative as there are stock specific negative news and FIIs continue to be sellers.
Important Close Level is 11445/640
Stock of the Day :
L&T Finance Holding Ltd. - BUY - Stop Loss 118/116 & Target 123/128
(IMP : Do not trade if opens at Stop loss/Target levels)
IL&FS three subsidiaries are servicing debt worth Rs.3,300cr of which L&T Finance has the large exposure and this would help reduce the Q1FY20 provision for the company and would see positive trade today.
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.