

GIFT Nifty down 10 points; here's the trading setup for today's session
record highs on Monday amid cautiousness in global markets. Investors will keep a close eye on US Fed Reserve policy, due later in the evening.
«Market is showing strength and is sustaining above 20k levels. Overall, we expect the market to gradually inch upwards with minor profit booking at intervals,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 11 points, or 0.05 per cent, at 20,089, signaling that Dalal Street was headed for muted start on Wednesday.
- Tech View: Nifty has been consolidating within a broad range, with notable call writing activity observed at higher levels. This suggests that market participants are cautious and have been selling call options to hedge against potential downward movements. The sideways trend in the index is expected to persist in the upcoming trading sessions.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.62% to settle at 10.84 levels.
US stocks dip
Wall Street lost ground on Tuesday, with risk-off sentiment weighing as the U.S. Federal Reserve convened for its much-anticipated two-day monetary policy meeting.
- Dow dips 0.31%,
- S&P down 0.22%,
- Nasdaq falls 0.23%
Asian stocks decline
Stocks declined in Asia after Wall Street posted modest losses ahead of the Federal Reserve’s policy decision, with traders betting interest rates will be higher for longer to curb inflation.
- S&P 500 futures were little changed as of 9:22 a.m. Tokyo time. The S&P 500 fell 0.2%
- Nasdaq 100 futures were little changed. The Nasdaq 100 fell 0.2%
- Hang Seng futures fell 0.1%
- Japan’s Topix fell