Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are positive as FED did a rate cut and APEC was canceled. The oil prices are at $60.45/bbl(-0.18%) as US Inventories were higher than anticipated. USDINR at 70.95(0.00%) as dollar index and FED cut.
We expect markets to be Neutral to Negative there might be some volatility due to expiry.
Important Close Level is 11580/930
Stock of the Day :
Ramco Cements Ltd. - BUY - Stop Loss - 758 & Target - 792/800
(IMP : Do not trade if opens at Stop loss/Target levels)
Results showed a 10% volume growth with good operating metrics.
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 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.