Today's Market Influencer :
Today Movement - Negative to Positive
US market Future Indices and Asia are positive with positive US close last night. The oil prices are at $60.86/bbl(0.76%) this is due to Saudi & Russia meeting at G20 and USDINR at 70.80 (-0.11%) as dollar index gains and crude also increased from low.
We expect today to be Neutral to Positive, as PSU Bank Recap has increased the hope of revival along with RBI showing a credit growth of 15% YoY and Talks of side meetings between US & China to ease trade tensions
Important Day Close Level is 10472/10710
Stock of the Day :
Reliance Capital Ltd. - Stop Loss 230/225 & Up Level - 238/245/252
Q2 Results were announced yesterday posting a 70% growth QoQ on Profit & 65% growth QoQ on Revenue there were certain changes made in management and structure which are benefiting the consolidated numbers.
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.