

GIFT Nifty down 15 points; here's the trading setup for today's session
«Large caps are better placed in terms of valuation comfort and growth visibility. However, volatility in the broader market cannot be ruled out. Key event to watch – BOE interest rate decision,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
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 14.5 points, or 0.07 per cent, at 22,099, signaling that Dalal Street was headed for muted start on Friday.
- Tech View: Looking ahead, the Nifty could potentially extend its gains towards the range of 22250-25300. Moreover, a breakthrough above 22300 may initiate a rally towards 22500 and beyond. The buy-on-dips strategy is expected to remain viable as long as the Nifty maintains levels above 21840, said Rupak De of LKP Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 7.1% to settle at 12.51 levels.
US stocks gain
Wall Street's three major stock indexes on Thursday registered record closing highs for the second day in a row after the Federal Reserve reassured investors about the prospects for rate cuts this year while chip stocks rallied after Micron Technology's upbeat forecast.
- Dow up 0.68%,
- S&P gains 0.32%,
- Nasdaq rises 0.20%
Asian shares mixed
Equities in Asia traded mixed Friday in a sign investors are rethinking the optimism that propelled the region’s shares higher in the prior session, as fresh signs of persistent inflation appeared in the US.