Today's Market Influencer :
Today Movement - Negative
US market Future Indices and Asia are negative. The oil prices are at $79.63/bbl(-0.25%) as the US-Saudi issue relating to journalist has added other countries pressure. USDINR at 73.73( 0.10%) will open lower as dollar index rallied and it also saw a low of 74 overnight which might retouch during markets.
We expect today to be a Negative , Rupee open is lower 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 but upside risk is Govt. & RBI meeting to discuss NBFCs situation and changes in PCA banks lending norms.
Important Day Level is 10251/10335
Stock of the Day :
State Bank of India - Down Level 256/251 & 266/272
Essar Steel committee has asked for additional 4,000cr upfront & Govt. is meeting RBI do dilute PCA norms & NBFC situation which might make positive day for today.
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.