GIFT Nifty down 180 points; here's the trading setup for today's session

economictimes.indiatimes.com:

Despite markets remaining open for the Budget, foreign investors' participation was very minimal. Hence, analysts say the actual reaction is likely to be witnessed in a day or two to understand whether the market has really discounted the Budget factor or not.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a gap-down start
GIFT Nifty on the NSE IX traded lower by 181 points, or 0.77 per cent, at 23,386.50, signaling that Dalal Street was headed for gap-down start on Monday.

• Tech View: The underlying trend of Nifty remains positive and the market is facing stiff resistance around 23,500-23,600 levels. A decisive move above this hurdle could open further upside towards 24,000 levels in the near term. Immediate support is placed at 23,300 levels, said Nagaraj Shetti of HDFC Securities.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 18% to settle at 14.18 levels.

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