NIFTY ( 1 Day Level)
ALERT : ABOVE 1DAY LEVEL - YESTERDAY WAS A NEGATIVE DAY BUT NIFTY MAINTAINED ABOVE THE 1 DAY LEVEL OF 10695 ON THE CLOSE COMFORTABLY THIS GIVES AN OPPORTUNITY TO ADD WEIGHT TO THE PORTFOLIO.
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.
Today's Market Influencer :
Today Movement - Neutral to Negative
Asia markets and US market Future Indices are negative due to FED comments of having a strong economy which is flattening the bond yield curve. The oil prices are at $77.10/bbl (-0.4%) it is lowest level of the week due to WSJ reporting that Aramco IPO is in doubt of not happening at all and USDINR at 68.80 (0.00%).
We expect today to be a Neutral to Positive day given the reduction in Oil prices have and UK Court ordered in favour of Indian Banks against Vijay Mallaya which helps in recovery process. On the global trade front , China has mentioned that it wont be following tariff fight actively. The new tariff imposed start from 00:00 hrs on Friday 6th July.
The USDINR also might have a flat or positive day cause FII flow yesterday have come at one of the lowest levels.
Stock of the Day :
ITC Ltd. - Down Level 266.5/264 & Up Level 272.5
Yesterday after long time ITC ltd. was positive and NIFTY was negative. We believe this positive move will continue for today as it is close to breaking Important 1 Day Level.