Today's Market Influencer :
Today Movement - Negative
US market Future Indices and Asia are positive. The oil prices are at $81.36/bbl(-0.31%) as Saudi announced that it will pump more 550k bbl/d but this already accounted since OPEC meeting in July and USDINR at 72.58 ( -0.05%) will open lower and has seen lowest level of 72.399 overnight.
We expect today to be a Negative day given New series will start lower but there might be case of upside RBI move to ease liquidity might help Rupee movement.
Important Day Level is 10888/11157.
Stock of the Day :
GAIL ( India) Ltd. - Down Level 371/365 & 385/396
Pipeline tariff hike was expected that is why the stock performance maintained and now post announcement it is much higher than expected so we see a positive day for the stock.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 30 MIN AND ABOVE 2MIN SUPPORT WHICH CREATES A NEGATIVE TREND WE BELIEVE IN SHORT TERM THERE IS A DOWNTURN AND CLOSED BELOW 1DAY AS WE HAD RAISE THE CONCERN THE CORRECTION CAME IN WE BELIEVE THIS IS NOT GOING TO SETTEL SOON WHICH WE RECOMMEND TO CREATE CASH AND WAIT TILL REVERSAL SEEN.
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.