Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia are flat to positive as China & Hong Kong open after week of holiday but Friday US close was negative as yields are rising on heavy selling. The oil prices are at $83.33/bbl(-0.84%) and USDINR at 74.02 ( -0.11%) will open lower and has seen lowest level of 74.24 which is broken much quicker than estimated.
We expect today to be a Neutral to Negative day Oil has corrected few dollars in couple of days and Rupee open is lower. FII continue to sell heavy in the markets.
Important Day Level is 10245/10423.
Stock of the Day :
HPCL Ltd. - Down Level 162.5/New Low 3-5% & 168.25/171
Oil prices has reduced from $86.5/bbl to $83.33/bbl over couple of days which should help give some relief to OMCs which are being battered due to govt. intervention in pricing.
POSITIONAL NIFTY LEVEL :
NIFTY LEVELS
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 1WEEK ,1DAY , 30 MIN AND ABOVE 2MIN SUPPORT , WE BELIEVE THIS A VERY NEGATIVE INDICATION THERE MIGHT BE BOUNCES BUT WE ESTIMATE THIS IS NOT GOING TO SETTEL SOON WHICH IS WHY WE RECOMMEND TO CREATE CASH FURTHER TAKING A BIT LOSS 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.
Comments