Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia are flat to negative , US has finalised list of $16 Bn of traded goods for tariff increase.The oil prices are at $74.59/bbl(-0.05%) and USDINR at 68.69 ( 0.13%) giving weak opening .
We expect today to be a Neutral to Negative as Result season is coming to end we expect some profit booking by traders to happen.
Stock of the Day :
Hindalco Industries Ltd. - Down Level 215/212 & Up Level 225/230
Its subsidiary Novelis reported highest levels of EBITDA ith EBITDA/ton going to $400 this should make positive move on the stock today.
POSITIONAL NIFTY LEVEL :
ALERT : YESTERDAY NIFTY CLOSED BELOW 30 MIN & BELOW 2MIN SUPPORT THIS COULD BRING SHORT POSITIONS, THOUGH ON OUR MARKET BUBBLE INDICATOR STILL NO SIGN OF BIG BEAR BUBBLE ANY OPEN ABOVE 30 MIN WILL LEAD TO ANOTHER RALLY. WE WILL BOOK PROFIT OF OUR PROFIT IN LARGE CAPS AND CREATE CASH OR SHIFT TO MIDCAPS.
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.