Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia is positive.The oil prices are at $76.08/bbl(-0.08%) China has shifted some more buying to Libya for crude and USDINR at 69.85 ( 0.11%) is flat opening after intervention on Friday by RBI.
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 :
JSW STEEL Ltd. - Down Level 348/340 & New High With 3-5% up
Steel prices have been revised higher than expected with Rs 200/ton on the short and Rs1200/ton on the Long . This would be positive on the steel sector companies with JSW Steel closing above 2min levels.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED NEAR 30 MIN & 2MIN SUPPORT AND THESE LEVELS ARE CLOSE TO EACH OTHER THUS DECISIVE MOVEMENT WILL DECIDE NEAR DIRECTION.
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.