Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are negative as USA is not willing to roll back tariff for trade deal. The oil prices are at $62.12/bbl(-0.78%) as there is dent to possible phase one deal. USDINR at 71.36(0.00%) as there is possible rating downgrade risk on fiscal issues.
We expect markets to be Neutral to Positive as Friday saw profit booking with MSCI adjustments and FII still were positive.
Important Close Level is 11580/12021
Stock of the Day :
Tata Power Ltd. - BUY - Stop Loss - 57.6 & Target - 62.10/63.5
(IMP : Do not trade if opens at Stop loss/Target levels)
Results were above than estimates operational level was much better. Even the MSCI rejig where it was expected to removed did not happen. Thus there can big short covering today.
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.