Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are flat to positive as FED balance sheet increases by $60Bn per month without announcing new stimulus. The oil prices are at $62.28/bbl(-0.16%) as SPR and US Inventories are higher than demand . USDINR at 71.95(0.01%) as crude holds near high and dollar index bounces.
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 :
SpiceJet Ltd. - BUY - Stop Loss - 103 & Target - 110/113
(IMP : Do not trade if opens at Stop loss/Target levels)
Company saw an increase market share to 16.2% and highest PLF . This along with new order of planes will maintain the high growth phase.
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.
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