Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia are positive and Dow Jones closed with 2% fall. The oil prices are at $80.60bbl(-0.48%) reversal happened after algorithm triggered by VIX sold throughout all asset classes and US inventories came above than expected. USDINR at 74.05 ( 0.31%) will open flat but saw higher level of 73.78 cause of new import tariffs and US president saying that strong dollar is not good for exports.
We expect today to be a Neutral Negative day with Upside risk , Rupee open is flat but might see much lower during market with cushion coming from Oil fall. FII continue to sell heavy in the markets.
Important Day Level is 10193/10330.
Stock of the Day :
InterGlobe Aviation Ltd. - Down Level 730/700 & 767/783/795
Govt. has cut excise duty on ATF from 14% to 11% and even crude oil has further 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, 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.