Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are flat to positive as there is a try by china to reduce trade tensions as pork prices are soaring.The oil prices are at $59.55/bbl(-0.52%) with overnight high of $60.43/bbl & USDINR at 71.69(0.00%) as crude spiked and Govt. measures rally finished.
We expect markets to be Neutral to Negative as the relief rally and short covering for the August month have finished and resume FII selling.
Important Close Level is 10677/11257
Stock of the Day :
Sun Pharma. Industries Ltd. - BUY - Stop Loss - 418 & Target - 441/451
(IMP : Do not trade if opens at Stop loss/Target levels)
As per reports SEBI has cleared the company of any allegations which were provided by the whistle blower. This adds to the positive news flow of the company along with China generics entry & major units coming out USFDA issues.
We would be positive 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.
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