Today's Market Influencer :
Today Movement - Neutral to Negative
US market Future Indices and Asia are slight negative and positive . The oil prices are at $79.86/bbl(0.10%) as the US-Saudi issue relating to journalist has added other countries pressure. USDINR at 73.48( 0.00%) will open flat.
We expect today to be a Neutral to Negative , Rupee open is flat but might see much lower during market with RBI intervening through its reserves at faster pace. FII continue have become negative again and NBFCs problems are amplifying with DII also becoming slight negative.
Important Day Level is 10251/10335
Stock of the Day :
HDFC Bank - Down Level 1952/1925/1840 & 1989/2040/2100
Results came inline with estimated and showed increase in market share on retail side. We expect it to be positive day for the stock with downside risk with reduction of weights by FIIs.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 1WEEK ,1DAY AND 30 MIN AND 2MIN SUPPORT , WHICH INDICATES A SLIGHT REVERSAL. BUT WE BELIEVE CLOSE OF BELOW 10230 WILL BRING NEW LEVEL OF SHORT AND CAN EXTEND THE FALL. WE WOULD BE WITH CASH FOR INVESTING AT LOWER LEVELS AS COMING 3 MONTHS WILL BE VOLATILE.
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.