Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices are flat, Apple is up +4% post markets on result announcement . Asia indices are negative as this week Central bank meetings are scheduled and mixed news of new tariff on good worth $200 Bn .The oil prices are at $73.86/bbl(-0.47%) on surprise US inventory build up and USDINR at 68.56 ( +0.11%) giving flat opening .
We expect today to be a Neutral to Neutral with Positive opening due to Eight Core coming at 6.7% higher than last month on increased steel and cement output. But due to RBI policy announcement there might be profit booking.
Stock of the Day :
Tata Global Beverages Ltd. - Down Level 238/233 & Up Level 247/256
Results will be announced today June Quarter is best for the company and March has already shown YoY increase and a positive/negative surprise will result in bigger move either side.
POSITIONAL NIFTY LEVEL :
ALERT : YESTERDAY 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.