Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are positive as the Trade Talks restart and the expectations as low.The oil prices are at $63.92/bbl(0.47%) trades higher as the trade talk and rate cut expectations build up for FOMC . USDINR at 68.77(0.02%) is still stable post spike in crude and dollar index.
We expect markets to be Neutral to Negative as FPI are still short in index futures and are selling in cash markets.
Important Close Level is 11148/11245
Stock of the Day :
DLF Ltd. - SELL - Stop Loss 183/185 & Target 175/172/168
(IMP : Do not trade if opens at Stop loss/Target levels)
Results posted by the company were below expectations and pre-exceptional income it posted a loss of Rs.138cr compared to profit of Rs.102cr previous quarter . There is still consolidation in the company going on in terms of assets which might take another two quarters.
We would be negative 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.