GIFT Nifty down 40 points; here's the trading setup for today's session
«The ongoing indecisiveness in the index is keeping participants on edge, and this volatility may persist on Thursday. We maintain our view of adopting a stock-specific approach, focusing on resilient sectors and themes, particularly those holding strong even during market downturns, and accumulating them gradually,» said Ajit Mishra – SVP, Research, Religare Broking.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 44 points, or 0.19 per cent, at 22,916, signaling that Dalal Street was headed for negative start on Thursday.
- Tech View: Technically, Nifty 50 remained below the 23,000-support level but after taking support near 23,800 multiple times, the index may try to break above 23,000 in coming sessions if positive cues persist. Bank Nifty posted gains today and closed just above the 49,500 level, with 49,000 remaining as immediate support.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 1.6% to settle at 15.42 levels.
US stocks end higher
U.S. stocks ended modestly higher on Wednesday and the S&P 500 notched its second straight all-time closing high as investors scrutinized the minutes from the Federal Reserve's January policy meeting and digested U.S. President Donald Trump's tariff plans.
- Dow up 0.16%,
- S&P 500 rises 0.24%,
- Nasdaq gains 0.07%
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