Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are positive China indicates that it needs to increase imports and lower tariff along with speeding up of trade talks with EU & Japan. The oil prices are at $62.07/bbl(-0.10%) as various trade talks progress and go to next stage. USDINR at 70.80(0.00%) as dollar index gets a bit stronger and crude price rises.
We expect markets to be Neutral to Negative as Indian does not intend to sign RCEP and FII & DII become net seller after many weeks.
Important Close Level is 11580/12021
Stock of the Day :
Bharat Forge Ltd. - BUY - Stop Loss - 453 & Target - 474/479
(IMP : Do not trade if opens at Stop loss/Target levels)
Class 8 Truck Orders are up by 75% MoM to 22100 , this third consecutive month of improvement from the low.
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.