



GIFT Nifty up 10 points; here's the trading setup for today's session
Options data suggests that 19800 is likely to be a key hurdle for the Nifty 50, as that strike price call option holds the highest open interest. On Monday, the 50-stock index ended 0.2% down at 19694 points.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded higher by 8 points, or 0.04 per cent, at 19,815, signaling that Dalal Street was headed for muted start on Tuesday.
- Tech View: The Nifty 50 has formed a small red candle with minor upper and lower shadows on the daily charts following a lower close on Monday. The short-term trend of the index suggests rangebound trade, and one could see some consolidation before a trend reversal. Immediate support is placed around 19600-19550 levels.
- India VIX: The somewhat sombre mood in Dalal Street on Monday reflected in the volatility gauge, which ended 2.7% higher at 12.1475 points.
US stocks gain
Wall Street's three major stock averages closed higher on Monday with Nasdaq's 1% rally leading the charge as heavyweight Microsoft hit a record high after it hired prominent artificial intelligence executives.
- Dow up 0.58%,
- S&P rises 0.74%,
- Nasdaq gains 1.13%
Asian stocks advance
Asian stocks advanced Tuesday, buoyed by Wall Street gains, as US shares extended their storming rally and a $16 billion sale of 20-year Treasuries lured bond buyers.
- S&P 500 futures rose 0.1% as of 9:32 a.m. Tokyo time. The S&P 500 rose 0.7%
- Nasdaq 100 futures rose 0.1%. The Nasdaq 100 rose 1.2%
- Hang Seng futures rose 1%
- Japan’s Topix fell 0.4%
- Australia’s S&P/ASX 200 rose 0.2%
- Euro Stoxx 50 futures rose 0.1%
Oil eases
Oil futures eased on Tuesday, reversing the previous day's rally, as