Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia are positive. The oil prices are at $79.05/bbl(0.03%) the spiked yesterday as news came that SAUDI is comfortable with oil price above $80/bbl meaning that they are willing to push the capacity to high and USDINR at 72.77 ( 0.09%) will open flat but overnight low has been 73.13 which we expect it see during the market.
We expect today to be a Neutral to Negative as the tariff war is intensified and India will get also involved as they are coming out with import restricted goods to control the currency.
Stock of the Day :
Reliance Industries Ltd. - Down Level 1187/1175 & 1231/1249
Jio has added around 1cr subscribers thats highest compared to competition addition. Now it has one fifth of subscribers in total with powers of price maker which helps it drive better margins. We see positive movement today for the stock.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 30 MIN AND 2MIN SUPPORT WHICH CREATES A NEGATIVE TREND WE BELIEVE IN SHORT TERM THERE IS A DOWNTURN AND ANYTIME CLOSE BELOW 1DAY WILL LEAD TO BIG FALL.
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.