Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are flat to positive as trade talks continued on Friday and FED balance sheet is increasing at fast pace bringing USA markets at all time high . The oil prices are at $63.25/bbl(-0.16%) as global oil demand increased more than estimated . USDINR at 71.66(0.01%) as crude is at highs but RBI reserves have reached at $447Bn highest ever.
We expect markets to be Neutral to Positive as more government initiatives and Winter session of parliament starts.
Important Close Level is 11580/12021
Stock of the Day :
BPCL Ltd. - BUY - Stop Loss - 498 & Target - 519/526
(IMP : Do not trade if opens at Stop loss/Target levels)
FM has assured that the company will be sold by March 2020 this would come as big positive for the operational performance of the company will see major re-rating from here.
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.