Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive and negative respectively as Hong Kong tension rise and there may be trade talk pause due to it. The oil prices are at $61.26/bbl(-0.38%) as Friday saw big down tick but it has recovered as Iraq & Iran mention that OPEC+ might discuss increasing deeper cut by 400K b/d. USDINR at 71.75(0.00%) as crude spikes from low and GDP comes at 4.5% as per estimate.
We expect markets to be Neutral to Positive as Telecom operators do a hike in tariff inn range of 20%-30% that might provide some relief.
Important Close Level is 11950/12240
Stock of the Day :
Mahindra & Mahindra Ltd. - SELL - Stop Loss - 547 & Target - 517/500
(IMP : Do not trade if opens at Stop loss/Target levels)
Company reported sales of 41,235 compared to 45,101 in Nov 2018 that is 15% lower and below estimates. Tractors showed a de-growth of 19% overall though it expects Rabi crop to better.
We would be negative 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.