


GIFT Nifty up 15 points; here's the trading setup for today's session
«Markets saw some respite after the previous day’s sell-off but the pressure still continues given several concerns regarding rising interest rates, crude oil prices, and growth concerns in 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 positive start
GIFT Nifty on the NSE IX traded higher by 14 points, or 0.07 per cent, at 19,838.5, signaling that Dalal Street was headed for positive start on Thursday.
- Tech View: Nifty found support at the 50-EMA. The day concluded with the formation of a bullish engulfing pattern. On the upper side, resistance was found at 19,750. A clear breakout is necessary to anticipate a substantial rally in the index. A decisive move beyond 19,750 could potentially push the index towards 19,900. On the downside, support is established at 19,600.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 3.58% to settle at 11.58 levels.
US stocks mixed
The S&P 500 eked out a fractional gain on Wednesday after a see-saw session, as investors weighed whether to start bargain hunting following a sell-off fueled by elevated Treasury yields and uncertainty about the path ahead for interest rates.
- Dow down 0.2%
- S&P up 0.02%
- Nasdaq rises 0.22%
Asian shares fall
Shares in Asia fell as investors grappled with the expectation of higher interest rates and rising oil prices after crude extended a one-year high.
- S&P 500 futures rose 0.3% as of 10:09 a.m. Tokyo time. The S&P 500 was little changed
- Nasdaq 100 futures rose 0.3%. The Nasdaq 100 rose 0.2%
- Hang Seng futures fell 0.3%
- Japan’s Topix fell 0.7%
- Australia’s S&P/ASX 200 rose