Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia is positive, Friday night US market closed with 0.3% which was due to China and US restarting the Trade talks .The oil prices are at $71.61/bbl(-0.31%) and USDINR at 69.85 ( 0.07%).
We expect today to be a Neutral to Positive as currency impact will be taken positive relief until spike comes during the market and markets are positive which would support it.
Stock of the Day :
Larsen & Toubro Ltd. - Down Level 1234/1222 & Up Level 1254/1274/1287
L&T has submitted notice to exchanges on board meeting on 23rd August relating to Buyback we believe this would result in positive trend day as it has been creatinng lows and result in short covering.
POSITIONAL NIFTY LEVEL :
ALERT : FRIDAY NIFTY CLOSED ABOVE 30 MIN & NEAR 2MIN SUPPORT THIS COULD LEAD TO CONSOLIDATION IN THE MARKETS BEFORE MOVING EITHER DIRECTION AND CREAT NEW HIGH.
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.