NIFTY LEVELS
ALERT : ABOVE 1DAY LEVEL - NIFTY HAS MAINTAINED ABOVE THE 1 DAY LEVEL OF 10699 ON THE CLOSE COMFORTABLY THIS GIVES AN OPPORTUNITY TO ADD WEIGHT TO THE PORTFOLIO.
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.
Today's Market Influencer :
Today Movement - Positive
Asia markets and US market Future Indices are positive. The oil prices are at $77.42/bbl (0.4%) it is above from lowest level of last week due to WSJ reporting that Aramco IPO is in doubt of not happening at all and USDINR at 68.56 (-0.29%).
We expect today to be a Neutral to Positive day given the tariffs are in place for US China EXIMs . We also see a flat day for crude and USDINR which would help us avoiding the negative in the market.
Stock of the Day :
Glenmark Pharmaceuticals Ltd. - Down Level 575/554 & Up Level 583/589
The company is planning to reduce the debt by selling its API Business which has about Rs.878 cr Revenues in FY18 valued approximately at Rs. 1,500 cr. There are 3 PE who have shown interest in the same.