Today's Market Influencer :
Today Movement - Positive Bias but RBI Policy
US market Future Indices and Asia including China are positive as the liquidity support continues and USA president is impeachment finished with rejection in Senate . The oil prices are at $56/bbl(0.86%) as JTC meeting still going on and Russia is not willing to cut further . USDINR at 71.19(0.00%) crude still trades lower but slightly up and RBI Policy is estimates to keep rate unchanged though we might get 25bps surprise rate cut that is front loaded.
Important close levels - 11740/12140
Stock of the Day :
Cadila Healthcare Ltd. - BUY - Stop Loss 267 & Target - 275/283
(IMP : Do not trade if opens at Stop loss/Target levels)
Company posted good growth in USA region though India region growth is still some quarters away.Though headline numbers are still lower but results are above estimates. Margins were impacted by higher employee cost and other expenses.
We would be positive for intraday trade.