Today's Market Influencer :
Today Movement - Negative
US market Future Indices and Asia are positive and negative respectively, US closed with heavy losses more than 2%. The oil prices are at $75.53/bbl(-1.53%) this is due to US inventory more than estimated and showed an overnight high of $77/bbl which might be seen during the day . USDINR at 73.38( -0.01%) will open lower as dollar index rallied and have seen a low of 73.71 which might come during the day.
We expect today to be a Negative , Rupee open is lower and sell off due to S&P Vix adjustment selling will continue.
Important Day Level is 10139/10303
Stock of the Day :
Jet Airways - Down Level 210/200 & 229/242
Crude prices overnight reversed to $77/bbl but due to Vix adjusted funds selling in all assets they came lower which during the market might come up again. Interglobe announced first ever loss and it stated cost pressures not being passed on, this is wiegh more heavy on Jet airways and believe its a short opportunity.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 1WEEK ,1DAY AND 30 MIN BUT 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.