GIFT Nifty up 15 points; here's the trading setup for today's session
economictimes.indiatimes.com
«Overall, we expect the market to maintain its positive trend on the back of strong domestic macroeconomic data. However, bouts of volatility cannot be ruled out given mixed global cues,» 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 positive start
GIFT Nifty on the NSE IX traded 12 points, or 0.06 per cent, at 20,229.50, signaling that Dalal Street was headed for positive start on Friday.
- Tech View: Nifty remained range-bound throughout the day as the index failed to deliver any decisive breakout from the recent range. The «buy on dips» strategy is expected to be the preferred approach until Nifty falls below 19,900 decisively. On the upside, call writers at 20,100 are likely to defend the index against further upward movement. A sustained trade above 20,100 could potentially trigger a significant rally in the short term.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 4.31% to settle at 11.32 levels.
US stocks gain
The S&P 500 ended higher on Thursday as hotter-than-expected economic data eased worries about a recession without raising fears of a Federal Reserve rate hike next week, while Arm Holdings soared in its stock market debut.
- S&P 500 +0.84%,
- Nasdaq +0.81%,
- Dow +0.96%
Asian shares rally
Stocks in Asia followed US benchmarks higher ahead of a slew of Chinese data, after strong US economic reports revived speculation the Federal Reserve will be able to engineer a soft landing.
- S&P 500 futures rose 0.1% as of 9:38 a.m. Tokyo time. The S&P rose 0.8% Thursday
- Nasdaq 100 futures rose 0.1%. The Nasdaq 100 rose 0.8%
- Japan’s Topix rose 1%
- Australia’s
