



GIFT Nifty up 20 points; here's the trading setup for today's session
Indices are expected to trade in a narrow range, and investors will await cues from the second quarter earnings of companies, which will kickstart on Wednesday with TCS. 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 19 points, or 0.10 per cent, at 19619.50, signaling that Dalal Street was headed for positive start on Tuesday.
- Tech View: The sharp fall on Monday saw Nifty 50 forming a bullish hammer candle pattern, indicating further downside towards 19350-19450 levels in the short term, before showing another round of upside bounce from the lows. Immediate resistance is placed at 19620 level.
- India VIX: The risk-off mood in the market on Monday saw the “fear gauge” soar 11% and settle at 11.40 points.
US stocks up
Wall Street's major indexes closed higher on Monday while energy stocks rallied as investors digested the latest news about the conflict between Israel and the Palestinian Islamist group Hamas.
- Dow gains 0.59%,
- S&P up 0.63%,
- Nasdaq rises 0.39%
Asian shares gain
Asian sharesadvanced while Treasuries jumped following dovish comments on rates from Federal Reserve officials.
- S&P 500 futures were little changed as of 9:29 a.m Tokyo time. The S&P 500 rose 0.6% on Monday
- Nasdaq 100 futures were little changed. The Nasdaq 100 rose 0.5%
- Hang Seng futures rose 0.5%
- Japan’s Topix rose 1.9%
- Australia’s S&P/ASX 200 rose 1.1%
Oil dips
Oil prices edged down slightly on Tuesday after gaining more than 4% in the previous session as markets weighed the potential for supply disruptions as the conflict between Israel and the Palestinian Islamist group Hamas continued.
Dollar slips
The dollar