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Today's Market Influencer :


Today Movement - Neutral to Negative


US market Future Indices and Asia Indices are flat as US & China tariff takes effect on 1st Sept.The oil prices are at $58.73/bbl(0.12%) as OPEC production increased slightly in August & USDINR at 71.97(0.00%) as GDP falls to 5% and FII continue to sell


We expect markets to be Neutral to Negative as GDP & auto numbers fall to new low.

Important Close Level is 10677/11257


Stock of the Day :


Indiabulls Housing Ltd. - SELL - Stop Loss - 470 & Target - 441/420

(IMP : Do not trade if opens at Stop loss/Target levels)


ICRA downgraded 1.37 lk cr worth debt by one level & mentioned if LVB merger takes place there will be scope of bigger downgrade.


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.