Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia are mixed. The oil prices are at $77.44/bbl(0.09%) and USDINR at 72.61 ( 0.04%) will open weaker but it has reached 73.01 overnight which we might see during the day .
We expect today to be a Neutral to Negative today as Intervention in the currency movement is not helping and fuel cost are increasing everyday which has been deciding factor for election results.
Stock of the Day :
Reliance Capital Ltd. - Down Level 432/420 & 450/457/462
Today result is to be announced for Q2FY19 and yesterday Reliance Home Finance result were announced with 41% PAT growth and we should see a good result which would create some short covering in the stock.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 30 MIN AND 2MIN SUPPORT WHICH SUGGESTS A NEW ROUND OF SELLING HAS COME , THERE WAS A RESPITE FOR FEW DAYS BUT THIS DOWNSIDE IS SUPPORTED BY HEAVY FII SELLING WHICH WOULD IMPACT THE LEVELS.
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.