Today's Market Influencer :
Today Movement - Negative to Positive
US market Future Indices and Asia are slightly up with US closing near up 1% close. The oil prices are at $67.60/bbl(0.71%) and USDINR at 71.94( 0.22%) the movement during the market hours will be decided by the RBI Board news and eventual result of it.
We expect today to be Neutral to Positive, Crude is up on the OPEC+ cut discussion & USA weather change. This would impact us negatively but there could be buying in Banks cause of RBI Board meeting today which might discuss CRR cut and liquidity issue. This will also put to rest all the speculations of Govt. wanting more active role in RBI & Gov. resigning.
Important Day Close Level is 10472/10710
Stock of the Day :
Siemens Ltd. - Down Level 967/960 & Up Level - 1018/1035/1055
Q2 Results were above estimates given the higher revenue growth of 28% QoQ & 25% YoY with slightly higher EBITDA margin of 10.6% vs 10% YoY. Profit of last year had exceptional item if adjusted then Profit growth was 33% pre tax.
Main growth at revenue came from Energy management , Power & Gas and Process Industries segments where showed a growth of 30-40% QoQ in revenue. EBIT Margins were better in Mobility & Process Industries segment.
Balance sheet remained stable during the half and saw similar cash levels of Rs3465 cr vs Rs 4071 cr with working capital cycle being stable.
We would be positive for intraday trade.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED BELOW 1WEEK ,1DAY BUT CLOSE TO 2 MIN AND 30 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 ADVISE TO INVEST 5-8% OF CASH LEVELS HERE IN ADVISED 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.