Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive as this week there might be face to face meet of trade negotiators in China. The oil prices are at $62.37/bbl(0.00%) as OPEC meets on 5th Dec for roll over talks and Trade talk optimism is high. USDINR at 71.79(0.00%) as crude is at high levels and fiscal worries still remain.
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 :
United Spirits Ltd. - SELL - Stop Loss - 625 & Target - 590/578
(IMP : Do not trade if opens at Stop loss/Target levels)
Andhra Pradesh government has cancelled all bar licenses from 31st December and will issue only 50% licenses via lottery system on 1st Jan. USL holds top rank in IMFL category in the state with 44.6% volume market share.
We would be negative 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.