Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are flat to positive after peaceful protest in Hong Kong.The oil prices are at $59.32/bbl(0.92%) as trade war de-escalation is there over weekend . USDINR at 71.15(0.00%) as crude price softens and RBI reserves reach record level of $430.6 Bn.
We expect markets to be Neutral to Negative as FII selling returns and any stimulus announcement will be in right time as communicated by FM.
Important Close Level is 10677/11257
Stock of the Day :
Mahangar Gas Ltd. - SELL - Stop Loss 827 & Target 786/776
(IMP : Do not trade if opens at Stop loss/Target levels)
Mumbai where CNG & PNG is supplied by the company is facing shortage due to technical issue from ONGC gas supply to its Wadala CNG station . This has led to low to o gas available at few pump stations and it is unknown when the issue will be resolved.
We would be negative 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 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.
Commenti