rate cuts are most likely to start from its September meeting.
«Indian markets are expected to follow gains seen in the US stock market, as the likelihood of a „soft landing“ for the global economy increases amid signs of economic softening. A potential rate cut by the Fed would likely boost market sentiment and drive up stock prices,» said Pravesh Gour, Senior Technical Analyst at Swastika Investmart.
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 60 pts lower at 25,010.
Tech View
On the daily charts, we can observe that Nifty has filled the gap area formed on 2nd August and is inching higher. The previous all-time high 25078 and above that the rally is likely to extend towards 25220 which is the daily upper Bollinger band. On the downside, 24600, which is around the 20-day moving average, shall act as a trend reversal level from a short-term perspective.
India VIX
India VIX, which is a measure of the fear in the markets, rose 1.33% to settle at 13.73 levels.
Global Markets
Forex News
Stocks in F&O ban today
1) Aarti Industries
2) ABFRL
3) Balrampur Chini