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Today's Market Influencer :


Today Movement - Neutral to Negative


US market Future Indices and Asia Indices are negative as US-China restart talks this week with very low expectations and post US president saying that China is delaying talk till next elections.The oil prices are at $63.02/bbl(-0.27%) this is lower due to lower expectation of US-China talk and Japan-South Korea trade issues going on . USDINR at 68.88(0.00%) due to crude stable at lower levels the currency is stable as well.


We expect markets to be Neutral to Negative though might be slight bounce this week as DII buy more than FII and FII are going net buyers in stock futures.

Important Close Level is 11175/11375


Stock of the Day :


ICICI Bank Ltd. - BUY - Stop Loss 408/404 & Target 422/433/437

(IMP : Do not trade if opens at Stop loss/Target levels)


The bank reported highest NIM in past 10 quarters and NII growth of 25%+ which is highest in last 14 quarters. Asset Quality was maintained and slightly improved with sufficient capital at bank. Slippages were lower QoQ.


We would be positive for intraday trade.



POSITIONAL NIFTY LEVEL :


NIFTY LEVELS




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.