Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are negative as President Trump speech shows more negativity towards trade deal. The oil prices are at $61.88/bbl(-0.24%) as trade deal and Moody's downgrade the global outlook. USDINR at 71.79(0.01%) as crude prices have increased and local data is negative.
We expect markets to be Neutral to Positive as ground data is negative but this pushes government to further boost with measures that are populist.
Important Close Level is 11580/12021
Stock of the Day :
Coal India Ltd. - BUY - Stop Loss - 206 & Target - 215/217
(IMP : Do not trade if opens at Stop loss/Target levels)
Results were above expectations as FSA was best ever due to supply of non-power and high grade. Lower cost and higher prices offset decline in volume.
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.