Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia is slight positive given to the Emerging Market currencies are impacted due to USD spike.The oil prices are at $72.94/bbl(0.18%) and USDINR at 69.90 ( -0.05%) giving flat opening post weak yesterday due to weakening of all emerging currencies.
We expect today to be a Neutral to Positive as some level of buying to come in mid day.
Stock of the Day :
Reliance Industries Ltd. - Down Level 1176/1167 & Up Level 1195/1210
!5th August is launch of Fiber to Home and Booking for Jio 2 which is positive for the stock and will see some positive move today in anticipation.
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.