GIFT Nifty down 50 points; here's the trading setup for today's session
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 54.25 points, or 0.22 per cent, at 24,729, signaling that Dalal Street was headed for negative start on Monday.
- Tech View: Analysts say adopting a buy-on-dips strategy seems prudent, especially with the potential for an upward move toward 25,500 in the short term. However, minor pullbacks following a sharp rally are possible, further emphasizing the effectiveness of buying on dips to capitalize on this trend.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 2.7% to settle at 14.14 levels.
Asian stocks down
Asian shares were dragged by a slide in South Korea on Monday ahead of a packed week of central bank meetings that should see borrowing costs take a step lower, while U.S. inflation data are the last hurdle to a further policy easing there.
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