Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are flat as China delegation stays for the full schedule despite the tech companies banned by USA. The oil prices are at $58.17/bbl(-0.26%) as US-China trade talks and brexit talks are late stage and outcome will be known by Friday evening . USDINR at 71.20(0.00%) as FII continue to sell and dollar index is stable on US-China talks.
We expect markets to be Neutral to Negative as DII buying is surpassing FII selling as MF flow from post corporate tax cut have risen slightly.
Important Close Level is 11032/11404
Stock of the Day :
Torrent Pharma Ltd. - SELL - Stop Loss - 1660 & Target - 1598/1535
(IMP : Do not trade if opens at Stop loss/Target levels)
Company received an OAI from USFDA for its Indrad plant that is 80% of USA exports this would take time to get resolved and would impact the sales in short and medium term.
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 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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