Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are positive as Yuan gets fixed lowered than estimate .The oil prices are at $57.84/bbl(0.89%) as there is some reversal in growth slowdown as Japan sends first tech shipment to South Korea after putting restrictions . USDINR at 71.18(0.06%) as crude is lower but Net Outflows by FIIs are increasing.
We expect markets to be Neutral to Negative though there is slight risk of Positive movement as Weekly expiry is today.
Important Close Level is 10677/11257
Stock of the Day :
Aurbindo Pharma Ltd. - BUY - Stop Loss 548/540 & Target 571/582
(IMP : Do not trade if opens at Stop loss/Target levels)
Result were inline with estimates with . Revenue led by improvement in USA region where Generic prices have shown some bottom. Profit growth is at 39%YoY at Rs. 636 cr with 8% QoQ growth.
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 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.