Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are flat and negative respectively . The oil prices are at $78.04/bbl(-0.11%) and USDINR at 71.38 ( 0.07%) will open a weaker than yesterday close but higher than overnight low of 71.76.
We expect today to be a Neutral to Positive today due to SEBI showing signs of being accomadative relating to the circular and if Oil & Rupee are stable we would see big positive.
Stock of the Day :
Reliance Industries Ltd. - Down Level 1232/1218 & 1253/1273
Completes two years since launch with 10crore customers in 170days and target of 50% market share in 2020. We believe this will have positive impact on the stock for today.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 30 MIN ,2MIN SUPPORT WHICH SUGGEST REVERSAL BUT THERE CAN BE PROFIT BOOKING ON SHORTING POSITIONS AS THERE HAS NOT BEEN MUCH CASH SELLING.
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.