GIFT Nifty signals a negative start for D-Street. Here's the trading setup for today's session
Equity markets traded in a narrow range to close with minor gains on Thursday. Analysts said the release of pre-quarterly business updates is giving confidence in healthy Q1 earnings.
«We expect this ongoing momentum to continue and the Nifty to consolidate in a broader range. Investors would watch for the US Non-farm payroll and Unemployment Rate,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
Gift Nifty (Earlier SGX Nifty) signals a negative start.
Nifty futures on the Gift Nifty traded 50 pts lower at 24,368.
Tech View
Having placed at the hurdle of around 24400 levels (1.618% Fibonacci Extension), there is a possibility of this consolidation/minor dip extending for the coming sessions. Immediate support is at 10 day-EMA at 23,990, said Nagaraj Shetti of HDFC Securities.
India VIX
India VIX, which is a measure of the fear in the markets, fell 2.65% to settle at 12.86 levels.
Global Markets
- S&P 500 futures were little changed as of 9:07 a.m. Tokyo time
- Hang Seng futures were little changed
- Japan’s Topix was little changed
- Australia’s S&P/ASX 200 fell 0.2%
- Euro Stoxx 50 futures rose 0.4%
US equities
- The euro was little changed at $1.0813
- The Japanese yen was little changed at 161.32 per dollar
- The offshore yuan was little changed at 7.2926 per dollar
Stocks in F&O ban today
1) India Cements
2) Hindustan Copper
3) ABFRL
4) Bandhan Bank
5) PEL
Securities in the ban period under the F&O segment