Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive as China confirms that there was call with USA on Phase 1 in which certain issues were resolved and will continue to get solutions . The oil prices are at $62.63/bbl(0.00%) as Trade deal and OPEC+ meeting schedule comes out. USDINR at 71.68(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 :
State Bank of India Ltd. - BUY - Stop Loss - 331 & Target - 344/352
(IMP : Do not trade if opens at Stop loss/Target levels)
Bank subsidiary SBI Cards is scheduled to file DRHP next week and is expected to largest IPO in FY 20. The valuation is to be said at Rs.55000 - 60000 cr along with profit of Rs.730cr in H1 FY20.
We would be positive for intraday trade.
POSITIONAL NIFTY LEVEL :
NIFTY LEVELS -
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.