Today's Market Influencer :
Today Movement - Negative
US market Future Indices and Asia are mixed due to Amazon and Google missing estimates, US closed with heavy gain more than 2%. The oil prices are at $76.44/bbl(0.35%) this is due to statement by Saudi again but this time mentioning high inventories in system to keep slow on production and showed an overnight high of $77/bbl which might be seen during the day . USDINR at 73.33( 0.13%) will open flat as dollar index flat and have seen a low of 73.54 which might come during the day.
We expect today to be a Negative , Rupee open is flat and FII sell off to continue along with cautious commentary by Piramal enterprises on NBFC & real estate sector.
Important Day Level is 10109/10209
Stock of the Day :
ITC Ltd. - Down Level 282/276 & 295/299
Today Q2FY19 results are to be announced and are estimated to show a good cigarette volume growth which would be positive but at same time show an downside risk. We believe volume growth will be lower due to high base and give a short for the day.
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.