Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia Indices are negative as there is some data from USA showing of a slowdown and China wants certain tariff removals to sign phase 1 deal. The oil prices are at $62.65/bbl(-0.46%) trade optimism and OPEC+ December cut is pushing prices. USDINR at 70.78(0.00%) as dollar index gets a weak and crude price stable.
We expect markets to be Neutral to Negative as Markets run ahead of valuations especially narrower stocks turn high.
Important Close Level is 11580/12021
Stock of the Day :
TECH MAHINDRA Ltd. - BUY - Stop Loss - 764 & Target - 790/808
(IMP : Do not trade if opens at Stop loss/Target levels)
Results were better than estimates as the deal pipeline improved and the revenue growth was higher on larger conversion. Margins were higher after two quarters of contraction.
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 UNTIL NEW SET OF REFORMS ARE ANNOUNCED BY GOVERNMENT . THE DATA IS STILL WEAK THOUGH THERE WAS UPTICK IN OCTOBER BY REFORM DEPENDENT MOVE IN NOVEMBER.
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.
Comments