Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices are flat and Asia is negative heavy due to news of new tariff on good worth $200 Bn and FED yesterday keeping the rates unchanged .The oil prices are at $72.75/bbl(0.50%) and USDINR at 68.37 ( +0.08%) giving flat opening .
We expect today to be a Neutral to Negative as RBI does another rate hike and we expect one more soon as they are behind the curve which is risky to the system. We expect some adjustment to take place today.
Stock of the Day :
Marico Ltd. - Down Level 351/338 & Up Level New High
Results will be announced today June Quarter with COPRA prices cooling off to some extent but have to look at volume growth for better assessment and a positive/negative surprise will result in bigger move either side.
POSITIONAL NIFTY LEVEL :
ALERT : YESTERDAY NIFTY CLOSED BELOW 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.