Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia are negative due to US deciding to announce tariffs on $200 Bn imports next week. The oil prices are at $77.97/bbl(-0.05%) the increase is due to surprise higher US inventory draw than estimated and USDINR at 71.09 ( 0.02%) will open at lowest level but have hit 71.41 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 today this is last series before evening market starts.
Stock of the Day :
YES bank Ltd. - Down Level 350/345 & 368/379
RBI has given approval for appointment of Rana Kapoor but has also mentioned that it is only applicable till further notice and the full term is not renewed this might be due to further detail which they are going through. It will be taken negative impact initially but we might see a bounce during the day. We would recommend to buy in parts.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 30 MIN & ABOVE 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.