GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Domestic markets traded sideways throughout the day on Wednesday to close near day's high. Nifty gained about 3% in the month of July supported by growth led budget and second month consecutive buying by FIIs.
«We expect this momentum to continue with sectorial rotation at play,» 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 positive start.
Nifty futures on the Gift Nifty traded 50 pts higher at 25,092.
Tech View
Though placed at the highs, still there is no signs of any reversal pattern building at the new highs. However, a decisive move above 25100 levels could open sharp upside ahead. Immediate support is at 24750 levels, said Nagaraj Shetti of HDFC Securities.
India VIX
India VIX, which is a measure of the fear in the markets, rose 2.87% to settle at 13.25 levels.
Global Markets
- S&P 500 futures rose 0.6% as of 9:16 a.m. Tokyo time
- Hang Seng futures rose 0.2%
- Japan’s Topix fell 2.2%
- Australia’s S&P/ASX 200 rose 0.6%
- Euro Stoxx 50 futures rose 0.5%
Forex News
- The euro was little changed at $1.0828
- The Japanese yen rose 0.1% to 149.78 per dollar
- The offshore yuan was little changed at 7.2220 per dollar
- The Australian dollar was little changed at $0.6546
Oil rises
Oil prices increased during early Asian trading on Thursday, building on the significant gains from the previous session. This uptick followed the assassination of a Hamas leader in Iran, which heightened concerns
