


GIFT Nifty up 20 points; here's the trading setup for today's session
Analysts expect the current bullish momentum to continue in the near future, albeit with some hiccups on the way.
«We believe India would continue to shine and expect markets to maintain its outperformance in Samvat 2080. Over the next couple of quarters, sector rotation would be an important driver along with the overall market uptrend,» said Motilal Oswal, MD and CEO, Motilal Oswal Financial.
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 18.5 points, or 0.09 per cent, at 19,559, signaling that Dalal Street was headed for positive start on Monday.
- Tech View: A decisive break above 19,500 would trigger the next leg of up move towards 19,850 levels. While all sectors are witnessing rotational buying, we feel the contribution of banking would be critical for momentum else the rise could be gradual, said analysts.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 2.16% to settle at 11.35 levels.
US stocks gain
Wall Street's main indexes ended with big gains on Friday, boosted by heavyweight tech and growth stocks as Treasury yields calmed, while investors looked ahead to a next week's reports on inflation and other economic data.
- Dow up 1.15%,
- S&P rises 1.56%,
- Nasdaq gains 2.05%
Asian shares advance
Shares in Asia were mostly higher following a tech-driven rally Friday on Wall Street, as investors look ahead to crucial US inflation data due Tuesday.
- S&P 500 futures fell 0.2% as of 9:08 a.m. Tokyo time
- Nasdaq 100 futures fell 0.2%
- Hang Seng futures rose 0.5%
- Japan’s Topix rose 0.6%
- Australia’s S&P/ASX 200 fell 0.2%
Oil prices ease
Oil prices eased on Monday,