Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are mixed due to import tariff on $200Bn goods to be announced this week and NAFTA deal deadlined passed last week. . The oil prices are at $77.44/bbl(-0.26%) Russia production is stable in august but Saudi did not increase as much as expected which will create a supply issue and USDINR at 70.83 ( -0.05%) will open a little stronger as GDP came in better than expected.
We expect today to be a Neutral to Positive today due to GDP coming in better than expected and showing growth in manufacturing cause of lower base.
Stock of the Day :
Ashok Leylan bank Ltd. - Down Level 126/124 & 131/135
August number came at 17386 vs 13637 (August 2017) showing a 27% growth which is better than expected and doesn't show impact of Axle notifications which was expected.
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.