Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are positive as the central banks are entering another round of easing and debt deal is near completion .The oil prices are at $63.32/bbl(0.09%) is stable as Iran tensions are escalating and demand is not that weak. USDINR at 68.91(-0.01%) as crude and dollar index are stable.
We expect markets to be Neutral to Negative there is continuous FII selling and certain stocks are facing new pressure as they liquidate even the illiquid stocks.
Important Close Level is 11257/500
Stock of the Day :
Dish TV India Ltd. - BUY - Stop Loss 33.2/32.45 & Target 34.5/36
(IMP : Do not trade if opens at Stop loss/Target levels)
Today ZEE ltd. results are expected and secondly there is hope of deal announcement which have kept the rally on inn the stock and related group companies. Within this the company is in F&O ban which makes almost nil negative position.
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.