GIFT Nifty down 10 points; here's the trading setup for today's session
«With monsoon gradually improving and India hosting the G20 summit over the weekend, sentiments are buoyant and may lift the market towards its life high and 20k mark over the next few days,» 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 7.5 points, or 0.04 per cent, muted at 19,930.50, signaling that Dalal Street was headed for muted start on Monday.
- Tech View: Analysts expect Nifty to move into new all-time highs beyond the 20K mark in the coming week. The potential upside target of larger triangle upside breakout comes around 20100-20200 levels for the near term. Immediate support is placed at 19650 levels,
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.85% to settle at 10.78 levels.
US stocks gain
The S&P 500 closed slightly higher on Friday but well below its session high and all three of Wall Street's major averages posted weekly declines as investors worried about interest rates and waited anxiously for upcoming U.S. inflation readings.
Stocks in F&O ban today
1) Indiabulls Housing Finance
2) Balrampur Chini Mills
3) PNB
4) Hindustan Copper
5) India Cements
6) Delta Corp
7) Manappuram
8) SAIL
9) Chambel Fertilisers
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
FII/DII action
Foreign portfolio investors were net sellers at Rs 224 crore on Friday. DIIs bought shares worth Rs 1,150 crore.
Rupee
The rupee snapped a four-day losing streak to close 24 paise higher at 82.99 against the US dollar on Friday, helped by a firm
