Today's Market Influencer :
Today Movement - Neutral to Positive
USA and Asia markets including China are positive to negative as the new virus cases outside China jump higher but USA is planning to spend a $2.5Bn package to counter slowdown . The oil prices are at $56.11/bbl(0.92%) as OPEC meeting is due first week of March but the spread of virus has shut down more flights to different parts. USDINR at 71.94(0.02%) as crude drops but dollar index rise along with selling of FII putting pressure on currency.
Important close levels - 11659/12295
Stock of the Day :
TVS Motor Ltd. - SELL - Stop Loss 445 & Target - 432/423
(IMP : Do not trade if opens at Stop loss/Target levels)
Company has reported that due to coronavirus there is impact on its supply chain that would impact 10% of Feb production. But we believe as this shut down will stay for longer the company will start facing larger shut downs in future risking production output.
We would be negative for intraday trade.