Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia are negative. The oil prices are at $76.53/bbl(-4.25%) as Saudi has told that it can produce 12mnb/d within 3 months and in addition US inventory build up has come much higher than anticipated. USDINR at 73.23( 0.00%) will open higher as dollar index softened.
We expect today to be a Neutral to Positive , Rupee open is higher and crude prices much lower overnight.
Important Day Level is 10139/10303
Stock of the Day :
HPCL - Down Level 211/208 & 228/247
Crude prices fell more than 4% overnight due to Saudi promise of providing the market with supply when needed and build of US inventory came much higher than estimated.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 1WEEK ,1DAY AND 30 MIN BUT ABOVE 2MIN SUPPORT , WHICH INDICATES A SLIGHT REVERSAL. BUT WE BELIEVE CLOSE OF BELOW 10139 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.