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Front-Run


Today's Market Influencer :


Today Movement - Negative to Negative


US market Future Indices and Asia are negative with US closing near down 1.5%. The oil prices are at $63.23/bbl(1.25%) due to algorithm funds short selling overnight but fundamental data which is API inventories came with a draw of 1.35 Mn barrels this is due to strong winter hitting in early and USDINR at 71.33( 0.13%) as crude fell we might see stronger rupee during the day.


We expect today to be Neutral to Negative, even post crude strong price fall as equities also fell overnight and FII turned negative again along with DII who haven't shown a big positive buy number since 2nd Nov. We believe there might be redemption pressure and reduction flows towards equity funds domestically.


Important Day Close Level is 10472/10710


Stock of the Day :


Apollo Tyres Ltd. - Stop Loss 222/218 & Up Level - 229/233


Management issue has been resolved due to the salary cut which would go straight to bottom line which results in upgrade of EPS. Crude has fallen from $86 to $63 in a month though we have medium term crude of $90-95 we believe this fall will help tyre sector as 45% -60% cost of raw material is crude linked and they have an inventory days of 30-45 days thus December inventory will be at lower levels.


We would be positive for intraday trade even if opens negative due to market.


POSITIONAL NIFTY LEVEL :


NIFTY LEVELS




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.




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