GIFT Nifty down 5 points; here's the trading setup for today's session
«Given the current scenario, we maintain a negative outlook on the index and recommend a „sell on rise“ strategy. However, individual stocks continue to present trading opportunities on both sides, and participants should adjust their focus accordingly,» said Ajit Mishra – SVP, Research, Religare Broking.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 1 point, or 0.01 per cent, at 22,584.50, signaling that Dalal Street was headed for muted start on Tuesday.
- Tech View: " Reversal chances rest on the ability to avoid downsides beyond these objectives, or an outright swing back above 22790. We would however look for a break above 22950 as a confirmation of strength."
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.6% to settle at 14.44 levels.
US stocks mixed
The Nasdaq Composite fell more than 1% on Monday, with big technology stocks creating the biggest drag as investors worried about demand for technology supporting artificial intelligence while they waited for results from market heavyweight Nvidia.
- Dow up 0.08%,
- S&P 500 down 0.50%,
- Nasdaq down 1.21%
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