Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are positive as China & US Trade talks are going stable and ECB is expected to drive more stimulus .The oil prices are at $63.26/bbl(2.15%) as Trade talks and stimulus boost the expectations of growth. USDINR at 68.86(0.00%) as dollar index gains and currency is stable.
We expect markets to be Neutral to Negative there is continuous FII selling and there is negative flows in high valuation stocks.
Important Close Level is 11460/720
Stock of the Day :
ACC Ltd. - BUY - Stop Loss 1550/1538 & Target 1595/1640/1690/1710
(IMP : Do not trade if opens at Stop loss/Target levels)
Revenue and profitability were higher than estimated as the avg. selling price was higher and cost were also up. This was driven by price hikes in April and higher mix from ready mix segment which is higher margin. EBITDA/tonne was at Rs.962 which was better than estimates.
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. INCREASE CASH ALLOCATION TO 35%.
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.