GIFT Nifty signals a muted start for D-Street. Here's the trading setup for today's session
Union Budget, volatility is expected to remain high on Tuesday.
«We thus maintain a cautious stance and recommend a hedged approach. Traders should seek buying opportunities in low-beta counters, especially in the defensive sectors, and remain selective in other areas,» said Ajit Mishra – SVP, Research, Religare Broking.
Here's breaking down the pre-market actions:
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More NewsGift Nifty (Earlier SGX Nifty) signals a flat start.
Nifty futures on the Gift Nifty traded 25 pts higher at 24,546.
Tech View
The daily and hourly momentum indicator has a negative crossover which is a sell signal. Crucial support levels to be kept handy are 24265 (20-day moving average) and 24000 (23.6% Fibonacci retracement level. On the upside, a breakout above 24860 can lead to a rise towards 25530, Jatin Gedia of Sharekhan said.
India VIX
India VIX, which is a measure of the fear in the markets, rose 4.13% to settle at 15.44 levels.
Global Markets
- S&P 500 futures fell 0.1% as of 9 a.m. Tokyo time
- Hang Seng futures rose 0.4%
- Japan’s Topix rose 0.5%
- Australia’s S&P/ASX 200 was little changed
- Euro Stoxx 50 futures rose 1.6%
- Nasdaq 100 futures fell 0.2%
Forex News
- The euro was little changed at $1.0890
- The Japanese yen rose 0.1% to 156.88
