Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia are negative. The oil prices are at $77.56/bbl(0.13%) rthe increase is due to surprise higher US inventory draw than estimated and USDINR at 70.62 ( 0.02%) will open at lowest level but have hit 70.93 overnight which might come during market timings..
We expect today to be a Neutral to Negative given the rise in crude and Rupee at lowest level we expect some profit booking to come as series come to end today and New series to start tomorrow this is last series before evening market starts.
Stock of the Day :
ITC Ltd. - Down Level 307/302 & 316/New High 3% -5%
Big global brokerage has upgraded to outperform with target of Rs 360. And its channel checks have suggested 3-4% volume growth in cigarettes this would result in positive day for ITC Ltd.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED ABOVE 30 MIN & BELOW 2MIN SUPPORT WHICH SUGGEST SHORT REVERSAL 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.