GIFT Nifty down 60 points; here's what changed for market while you were sleeping
Reliance would be in focus as Jio financial services is set to be listed today. «We expect domestic as well as global markets to remain under pressure. The action is likely to continue in the broader market along with sectorial rotation,» Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19000 to 19600 zones while an immediate trading range in between 19100 to 19500 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETS
Tech View: The short term trend of Nifty continues to be weak with range-bound action. There is a possibility of a downside breakout of the immediate support of 19250 levels and the index could slide down to another base area of 19100-19000 levels in the near term. Any upside bounce could find resistance around 19400 levels. India VIX: India VIX, which is a measure of the fear in the markets, fell 0.8% to settle at 12.14 levels.US stocks flatThe S&P 500 ended nearly flat on Friday as gains in defensive sectors and energy offset weakness in megacap growth stocks, while investors looked toward next week's speech by Federal Reserve Chair Jerome Powell.FII/DII actionForeign portfolio investors turned net sellers at Rs 266.9 crore on Friday. DIIs too sold shares worth Rs 339 crore.RupeeThe Indian rupee ended stronger on Friday at 83.10, aided by the softness in US treasury yields and some easing in the dollar
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