Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are flat to positive as China announces new policies to boost consumption .The oil prices are at $59.42/bbl(-0.42%) & USDINR at 71.54(0.03%) as additional transfer from RBI eases the fiscal constrain.
We expect markets to be Neutral to Positive as the expectations of more measures especially for real estate continue.
Important Close Level is 10677/11257
Stock of the Day :
InterGlobe Aviation Ltd. - SELL - Stop Loss - 1716 & Target - 1616/1585
(IMP : Do not trade if opens at Stop loss/Target levels)
At AGM the absence of Mr. Gangwal leads to more speculation that the rift between the promoters is not over and Mr. Bhatia claiming that Indigo can stand on its own is another aggressive tone. Slight overnight increase in crude prices is also negative.
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.