Today's Market Influencer :
Today Movement - Positive
US market Future Indices and Asia are positive. The oil prices are at $74.81/bbl(0.67%) cause Trump administration mentioned that they dint want hurt allies via Iran sanction and cut the imports to zero and USDINR at 74.08( 0.39%) will open lower as dollar index higher and news of RBI gov. might have led some impact.
We expect today to be a Positive , Rupee open is lower and FII sell off to continue but reduced yesterday and oil prices lower than $75 will help control the downside. Plus today impact of L&T results will be seen.
Important Day Level is 10245/10453
Stock of the Day :
Larsen & Toubro Ltd. - Down Level 1243/1228 & Up Level - 1300/1325/1350
Q2FY19 results announced which have shown improvement than estimated. It is on better execution and higher margins in some segments.Execution improved in Infrastructure segment providing a revenue growth of 25% on QoQ which mainly led total revenue growth. Margin improvement came from Defence , Electrical & Automation and Hydrocarbon segments which had the revenues but margins were low earlier. Though the total Net Debt has increased by 24% to Rs.88,800cr. We are positive on this stock.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 1WEEK ,1DAY BUT ABOVE 30 MIN & 2 MIN SUPPORT , WHICH INDICATES A SLIGHT REVERSAL. BUT WE BELIEVE CLOSE OF BELOW 10027 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.