Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia is positive, as we expect some deal to be worked out with China there is progress being made with North Korea at the same time.The oil prices are at $74.92/bbl(0.25%) Saudi increase was less than the reduction by Iran during Jul '18 and USDINR at 70.20 ( 0.3%)is a weak opening due to oil prices and strong US Dollar.
We expect today to be a Neutral to Positive as the NIFTY has made new high but there might be short covering coming for week and slight improvement of USDINR during market hours .
Stock of the Day :
Tata Consultancy Services Ltd. - Down Level 2010/1986 & New High
USDINR has weakened to new level and no alarm have been raised that means further depreciation will be allowed this would benefit IT companies most directly and we believe there would upside on TCS today.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED ABOVE 30 MIN & 2MIN SUPPORT AND A NEW HIGH WAS FORMED WHICH WE BELIEVE WILL STAY FOR AS OUR INDICATOR IS NOT SHOWING ANY BUBBLE AS YET.
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.