Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are neutral to positive as USA has communicated that deal can happen sooner than thought. The oil prices are at $62.38/bbl(-0.27%) as Saudi ramps up to production of 9.8mbd from 11mbd before attack . USDINR at 71.07 (0.00%) as FII turned sellers and crude spikes from below $61.80/bbl
We expect markets to be Neutral to Negative as the initial reaction gets completed FII are still sellers in cash and derivatives . Today is expiry so can be volatile.
Important Close Level is 11274/11588
Stock of the Day :
Infosys Ltd. - BUY - Stop Loss - 784 & Target - 808/810
(IMP : Do not trade if opens at Stop loss/Target levels)
Currency is reversing its gain as dollar index spikes and company has come in the list of top 10 best global brands with high value.
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 DO NOT SEE ANY MAJOR UPSIDE OTHER THAN SOME RELIEF RALLY WHICH IS AT RISK NOW POST ARAMCO ATTACK. WE ADVISE A CASH ALLOCATION 50%-55%.
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.