Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are flat to negative as China data comes lowers than estimated and there was negative comment from China on phase one deal signing. The oil prices are at $58.88/bbl(-0.79%) as trade issues resurfaced . USDINR at 71.23(0.00%) as Dollar index rises.
We expect markets to be Neutral to Positive as FII are neutral to positive to the particular stocks and index previous two days.
Important Close Level is 11032/11404
Stock of the Day :
Indiabulls Housing Finance Ltd. - SELL - Stop Loss - 210 & Target - 190/189
(IMP : Do not trade if opens at Stop loss/Target levels)
Board did not take up buyback agenda as they recommended to get approval from SEBI because 6:1 debt condition and there have been several bond downgrades that has spiked up its cost.
We would be negative 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 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.