Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices are flat and Asia is slight negative.The oil prices are at $71.97/bbl(0.25%) and USDINR at 68.80 ( -0.09%) giving weak opening .
We expect today to be a Neutral to Negative as profit booking for the week to come but this is last day for major results so might see swing as SBI has to report the earnings.
Stock of the Day :
State Bank of India - Down Level 311/302 & Up Level 321/330
Today results will be released street expects a loss and reduction in NPA but any kind of positive surprise will take to highs and resulting increase in NIFTY levels through PSU Banks.
POSITIONAL NIFTY LEVEL :
ALERT : YESTERDAY NIFTY CLOSED ABOVE 30 MIN & BELOW 2MIN SUPPORT THIS COULD BRING A FRESH RALLY AS THE RESULT SEASON MOSTLY GET OVER BY FRIDAY AND WAS ABOVE OUR EXPECTATIONS AND SAW LESS DOWNGRADES AS OF NOW. WE BELIEVE MIDCAP SHOULD SEE A RALLY HEREON.
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.