Today's Market Influencer :
Today Movement - Neutral to Negative
USA markets are negative as 19 cases are disclosed by the government and they mention that situation can get bad before it is controlled & China is positive as the number of death reports are lowest in many weeks . The oil prices are at $52.15/bbl(-1.23%) as spread of virus becomes more global and refineries do 25% lower runs with credit issues for new oil purchases. USDINR at 71.58(0.00%) FII selling becomes more severe as ETF outflows increase but lower crude controls the currency.
Important close levels - 11539/12295
Stock of the Day :
RITES Ltd. - SELL - Stop Loss 330 & Target - 308/297
(IMP : Do not trade if opens at Stop loss/Target levels)
GoI to sell 5% of equity via OFS with floor price being set at 298. This will put negative pressure on liquidity available of the company.
We would be negative for intraday trade.