Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices positive as escalation tension cools off and China is sending the delegation on 13th January for deal signing. The oil prices are at $67.97/bbl(-1.39%) as tension cools off for now. USDINR at 71.87(0.00%) as crude spiked but FII selling was minimal and RBI had intervened in capping the impact.
We expect markets to be Neutral to Positive as yesterday market over reacted and was thinly traded in cash segment.
Important Close Level is 11830/12324
Stock of the Day :
HDFC Bank Ltd. - BUY - Stop Loss 1215 & Target - 1268/1289
(IMP : Do not trade if opens at Stop loss/Target levels)
Bank released its Q3FY20 update : deposits showed a growth of 25.2% that is 14 quarter high and CASA ration improved to 39.5% . Loan book grew at 19.6% YoY & 4.1% QoQ.
We would be positive for intraday trade.
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