Today's Market Influencer :
Today Movement - Negative
US market Future Indices and Asia are negative and Dow Jones closed with 3% fall. The oil prices are at $82.13bbl(-0.48%) reversal happened after algorithm triggered by VIX sold throughout all asset classes and USDINR at 74.49 ( 0.98%) will open lower and might see lower levels during the markets overnight low was of 74.94 .
We expect today to be a Negative day Rupee open is lower but might see much lower during market with cushion coming from Oil fall. FII continue to sell heavy in the markets and US President in yesterday night press meet has mentioned their will be action taken against India on S400 deal signing.
Important Day Level is 10200/10393.
Stock of the Day :
InterGlobe Aviation Ltd. - Down Level 730/700 & 750/766/783
Govt. has cut excise duty on ATF from 14% to 11% and even crude oil has cooled off due to all asset class selling which both is positive for the sector today.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 1WEEK ,1DAY AND ABOVE 30 MIN AND 2MIN SUPPORT , WHICH INDICATES A SLIGHT REVERSAL. BUT WE BELIEVE THIS STILL 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.