Today's Market Influencer :
Today Movement - Negative to Negative
US market Future Indices and Asia are positive with positive US close last night. The oil prices are at $60.41/bbl(-0.25%) and USDINR at 70.90 (0.11%) as dollar index gains and crude also increased from low.
We expect today to be Neutral to Negative, as crude gained from low and we might see selling in other non-crude sectors like metals & financials.
Important Day Close Level is 10472/10710
Stock of the Day :
Reliance Industries Ltd. - Stop Loss 1102/1090 & Up Level - 1121/1145
Bank Of America has upgraded RIL with 29% upside from current price due to the progress made on non-oil revenues and profitability it is able to make at a faster pace.
We would be positive for intraday trade.
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.
Comments