Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia indices are positive as acceleration of new cases fall in terms of % and WHO declares emergency but puts focus on that trade or travel should not be impacted. The oil prices are at $58.30/bbl(0.21%) as OPEC+ plans to advance the meeting to early Feb. USDINR at 71.57(0.00%) though crude remains stable but FII selling and risk of fiscal slippage is impacting currency.
We expect markets to be Neutral to Positive as Budget anticipation rally will continue at new high along with new money getting attracted in broader market.
Important Close Level is 11894/12460
Stock of the Day :
Majesco Ltd. - BUY - Stop Loss 375 & Target - 410/422
(IMP : Do not trade if opens at Stop loss/Target levels)
Company has acquired InsPro Tech based in USA for $12 mn in all cash deal. This will help company expand its reach in SaaS market for life and group insurance.
We would be positive for intraday trade.