GIFT Nifty down 5 points; here's the trading setup for today's session
«We expect this range-bound move (Nifty hovering around the 24400-24500 zone) to continue in the absence of any major triggers, while the earning season would drive sectorial rotation. Key results tomorrow — BEL, Chola Investment, JSW Steel, HPCL, Coal India, and BPCL,» said Siddhartha Khemka, Head — Research, Wealth Management, 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 1.5 points, or 0.01 per cent, at 24,460.50, signaling that Dalal Street was headed for muted start on Friday.
- Tech View: A sustainable move above 24,600-24,700 levels could confirm the quantum of upside bounce in the market. However, a slide below 24300 could trigger more weakness in the near term, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 4.46% to settle at 13.97 levels.
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