Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are flat as USA decided to delay ban on Huawei by 90 days.The oil prices are at $59.72/bbl(-0.03%) are firm on Saudi field being attacked overnight . USDINR at 71.45(0.00%) as crude prices spike and FII selling (Equity + Debt) continues.
We expect markets to be Neutral to Negative as announcement of any stimulus gets delayed.
Important Close Level is 10677/11257
Stock of the Day :
CG Power Ltd. - SELL - Stop Loss 19 & Target 16/14.9
(IMP : Do not trade if opens at Stop loss/Target levels)
After long hour board meeting it was concluded that there were substantial amount of transactions done by employees which were not authorised and legal by scope of their employment and it is worth Rs. 1990cr & Group for Rs.2806 cr
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.