Front-Run

Today's Market Influencer :

Today Movement - Neutral to Negative

US market Future Indices and Asia are mixed as US Closed in green. The oil prices are at $54.62/bbl(-0.31%) with overnight high of $56/bbl and USDINR at 69.99(-0.01%) dollar index was flat.

We expect markets to be Neutral to Negative as crude spiked and fiscal deficit target looks even more difficult to meet post the new of farmer relief.

Important Day Close Level is 10737/10862

Stock of the Day :

GM Breweries Ltd. - Stop Loss 730/715 & Target - 781/816/835

Q3FY19 results will be announced by the company today given Dec is best quarter in terms of revenue and profits we expect it show a good growth on YoY & QoQ. Given that sugar prices are still raw material costs should be controlled with high volume growth due to festive quarter. Sept Qtr Net profit was Rs.19.42cr and Dec'17 Qtr Net profit was Rs.22.3 cr.

We would be positive for intraday trade.

POSITIONAL NIFTY LEVEL :

NIFTY LEVELS

ALERT : PREVIOUSLY NIFTY CLOSED BELOW 1WEEK, 30MIN BUT ABOVE 2MIN & 1 DAY FOR US AS IT HAS CROSSED BELOW 1WEEK THAT IS CRUCIAL AS THIS LAST WEEK FOR THE YEAR ALGOS ARE MORE ACTIVE AND WE HAVE CREATED CASH AND WOULD WAIT FOR LOWER LEVELS TO DEPLOY.

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.