Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia is mixed.The oil prices are at $76.22/bbl(-0.04%) remaining flat for the past day and USDINR at 70.38 ( 0.17%) is flat opening after intervention on Friday by RBI.
We expect today to be a Neutral to Negative as Allahabad High court did not extend the Feb 12 circular deadline which was been expect by the market we might see PSU banks taking hit today for the same and some profit booking in midcap to continue.
Stock of the Day :
Bharti Airtel Ltd. - Down Level 371/369 & 382/387/391
Received the nod for divesting 20% DTH unit to Warburg Pincus which will help generate cash and reduce the debt.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED ABOVE 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.