GIFT Nifty signals a muted start for D-Street. Here's the trading setup for today's session
«This is supported by healthy macros and retail participation. Overall we expect the market to continue its consolidation mode with a gradual up move. US & Europe policy meeting in the near term would keep investors on edge,» 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 flat start.
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Nifty futures on the Gift Nifty traded 50 pts higher at 25,030.
Tech View
The short-term trend of Nifty remains weak, but the market is showing signs of sustainable upside recovery after a small downward correction. Nifty needs to cross above the hurdle of 25,150 levels to consider a possible trend change towards up. Immediate support is at 24750, said Nagaraj Shetti of HDFC Securities.
India VIX
India VIX, which is a measure of the fear in the markets, fell 6.44% to settle at 14.24 levels.
Global Markets
