GIFT Nifty up 10 points; here's what changed for market while you were sleeping
«Overall we expect the market to consolidate with a positive bias in the near term, before taking flight to record high levels,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19100 to 19600 zones while an immediate trading range in between 19250 to 19500 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETS
Tech View: The overall uptrend status of Nifty remains intact. Though, the market placed at new highs, the selling pressure has not been emerging from near the hurdle. If such a pattern continues for the next 1-2 sessions, without showing any further damages, then that could eventually result in a sharp upside bounce in the market. Immediate support is at 19,300 levels. India VIX: India VIX, which is a measure of the fear in the markets, rose 1.56% to settle at 11.88 levels.FII/DII actionForeign portfolio investors were net buyers for the sixth straight day at Rs 1,603 crore. DIIs sold shares worth Rs 439 crore on Wednesday.RupeeThe rupee fell 22 paise to close at 82.23 against the US dollar on Wednesday, weighed down by a weak tone in local equity markets and disappointing domestic macroeconomic data.
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