Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are negative as USA House pass bill on Hong Kong that might impact trade talks. The oil prices are at $60.92/bbl(0.36%) as Russia is unlikely to support any deeper cuts with OPEC+. USDINR at 71.83(0.01%) as crude softens and Fiscal deficit number of 3.3% will be managed.
We expect markets to be Neutral to Positive as more government initiatives and Winter session of parliament starts.
Important Close Level is 11580/12120
Stock of the Day :
Siemens Ltd. - BUY - Stop Loss - 1550 & Target - 1612/1635
(IMP : Do not trade if opens at Stop loss/Target levels)
Though Results were below estimate. But there was YoY & QoQ improvement in execution. Margins were impacted by one time cost of RM increase and revenue mix.
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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