Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive as China - USA are showing progress on phase one of the deal closure soon. The oil prices are at $58.95/bbl(-0.02%) as trade deal phase one is progressing but BREXIT deal vote is today . USDINR at 70.91(-0.01%) as dollar is under pressure due to data and BREXIT deal.
We expect markets to be Neutral to Positive as FII buying continues but results will be important.
Important Close Level is 11404/11687
Stock of the Day :
Infosys Ltd. - SELL - Stop Loss - 779 & Target - 709/647/629
(IMP : Do not trade if opens at Stop loss/Target levels)
There has been a whistleblower complaint to the directors and SEC that have blamed CEO of using corporate expenses for personal use and to defer the expenses recognition without following process getting new deal approved.
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 AND STOCK SPECIFIC RALLIES . THE DATA IS STILL WEAK THOUGH THERE WILL SOME UPTICK IN OCTOBER.
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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