Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are up as US President announced that on request of China they have delayed additional 5% tariff till 15th Oct. The oil prices are at $61.22/bbl(0.67%) as tariff delay . USDINR at 71.58(0.04%) as FII selling has lightened up and crude reduced.
We expect markets to be Neutral to Positive as there is hope of auto relief & tariff have been delayed.
Important Close Level is 10677/11257
Stock of the Day :
JSPL Ltd. - BUY - Stop Loss - 103 & Target - 112.5/119
(IMP : Do not trade if opens at Stop loss/Target levels)
Trump have announced delay of additional 5% tariff to 15th October on request of China. This would help create a bounce in global link stocks.
We would be positive 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.