GIFT Nifty signals a negative start for D-Street. Here's the trading setup for today's session
«In the coming week, we expect stock and sector-specific action as the market starts taking cues from Q1FY25 earnings. On the macro front, investors will look out for inflation data that will be released by India, the US, and China,» 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 45 pts lower at 24,376.
Tech View
The underlying trend of Nifty continues to be positive. There is a possibility of an upside breakout hurdle around 24400-24500 levels in next few sessions. Immediate support is at 24170 levels, said Nagaraj Shetti of HDFC Securities.
India VIX
India VIX, which is a measure of the fear in the markets, fell 1.24% to settle at 12.70 levels.
Global Markets
- S&P 500 futures fell 0.2% as of 9:37 a.m. Tokyo time
- Hang Seng futures fell 0.3%
- Japan’s Topix fell 0.4%
- Australia’s S&P/ASX 200 fell 0.4%
- Euro Stoxx 50 futures were little changed
Forex News
- The euro fell 0.2% to $1.0823
- The Japanese yen was little changed at 160.63 per dollar
- The offshore yuan was little changed at 7.2914 per dollar
Oil flat
Oil prices were little changed as investors eyed energy supply disruption, with the largest ports in Texas shut before Tropical Storm Beryl likely strengthens into a hurricane and makes landfall on Monday.
Brent crude futures inched up 11 cents, or 0.1%, to $86.65 a barrel as at 0042 GMT after closing down 89
