Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are negative as PBOC sets yuan close to 7 which results in weaker equity markets .The oil prices are at $58.85/bbl(-0.15%) as trade tensions escalate the crude prices cool off . USDINR at 71.05(0.00%) as crude prices remain flat but Internal tensions along FII outflow rise.
We expect markets to be Neutral to Negative as FII outflows increase and there is earnings downgrades through out sector.
Important Close Level is 10677/11257
Stock of the Day :
IndiaBulls Housing Finance Ltd. - SELL - Stop Loss 521/529 & Target 492/470/460
(IMP : Do not trade if opens at Stop loss/Target levels)
AUM has declined as majority of cashflow is used for repayment of liabilities which are still high . NIM come inline with estimate but profit comes lower than estimate along with worsened asset quality.
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 50%.
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.