Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are neutral as USA has put additional tariff on China products and Impeachment process continues. The oil prices are at $57.92/bbl(0.36%) as Saudi reaffirms 9.9mbd production from this week . USDINR at 71.03(0.00%) crude is low but dollar index and FII selling is still putting pressure.
We expect markets to be Neutral to Negative as FII selling intensifies and RBI policy to give rate cut between 35-50bps.
Important Close Level is 11274/11588
Stock of the Day :
Indian Hotels Ltd. - BUY - Stop Loss - 151 & Target - 157/160
(IMP : Do not trade if opens at Stop loss/Target levels)
Company forms a partnership with AB Inbev to open 15 microbreweries with investment of Rs.150cr in Taj properties which would result in low expenditure and higher operating leverage and new stream of revenue.
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 DO NOT SEE ANY MAJOR UPSIDE OTHER THAN SOME RELIEF RALLY AS DATA IS STILL SHOWING SLOW GROWTH.
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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