GIFT Nifty signals a muted start for D-Street. Here's the trading setup for today's session
«An expectation of a growth-focused budget is aiding sentiments and is likely to lead to sector-specific action,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
Gift Nifty (Earlier SGX Nifty) signals a muted start.
Nifty futures on the Gift Nifty traded 9 pts higher at 23,602.
Tech View
The short-term trend of Nifty continues to be positive amidst high volatility. Having moved above the hurdle of 22250 levels (midpart of Tuesday's long bear candle) recently, the Nifty could move towards the next upper hurdle of 23200 (upper part of long bear candle) in the near term. Immediate support is at 22640 levels, said Nagaraj Shetti of HDFC Securities.
India VIX
India VIX, which is a measure of the fear in the markets, fell 2.68% to settle at 13.34 levels.
Global Markets Wrap
- S&P 500 futures were little changed as of 9:10 a.m. Tokyo time
- Hang Seng futures fell 0.5%
- Japan’s Topix rose 0.6%
- Australia’s S&P/ASX 200 rose 0.3%
- Euro Stoxx 50 futures rose 1.2%
- Nasdaq 100 futures rose 0.1%
Dollar climbs
The dollar rose to a seven-week high against the yen on Thursday, while the sterling and euro fell amid on the U.S. economy is coming off the boil while traders watch for more data bolstering the case for a Federal Reserve rate cut this year.
May retail sales released this week were tepid and the labor market appears to be weakening. The number of Americans filing new claims for unemployment benefits fell last week, but was still more than
