Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia is negative given to the USDTRY (USD Turkey Lira ) goinng beyond 7.15 and resulting in crisis panic through the stock markets this was nnoted by us on Thursday through our tweet.The oil prices are at $72.67/bbl(-0.19%) and USDINR at 69.48 ( 0.55%) giving weak opening due to weakening of all emerging currencies.
We expect today to be a Neutral to Negative as profit booking should kick post result season mostly finishing and Currency spikes through out emerging world.
Stock of the Day :
Axis Bank Ltd. - Down Level 613/604 & Up Level 620/635
On Friday, HDFC Bank Deputy MD Paresh Sukthankar resigned from the post after working in the Bank for 24 years . This will be taken as speculative positive for Axis Bank as this has occurred during the time Axis Bank is looking for a new MD.
POSITIONAL NIFTY LEVEL :
ALERT : FRIDAY NIFTY CLOSED BELOW 30 MIN & BELOW 2MIN SUPPORT THIS COULD BRING SHORT CORRECTION AS THE RESULT SEASON MOSTLY GOT OVER BY FRIDAY AND WAS ABOVE OUR EXPECTATIONS AND SAW LESS DOWNGRADES AS OF NOW. WE BELIEVE MIDCAP SHOULD SEE A RALLY HEREON BUT WITH BUMPS.
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.