GIFT Nifty up 20 points; here's the trading setup for today's session
economictimes.indiatimes.com
«We expect the overall positive momentum to continue especially in the large cap while sectoral rotation is likely to be seen in the broader market,» 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 21 points, or 0.10 per cent, at 20,187.50, signaling that Dalal Street was headed for positive start on Monday.
- Tech View: Nifty continued to exhibit strength as the index reached new highs. Strong Put writing at 20,100 has further bolstered positive sentiment in the market. The trend is expected to remain positive as long as Nifty remains above the 20,000 mark. In the short term, there is potential for Nifty to move towards the 20,480-20,500 range on the upside.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 3.67% to settle at 10.90 levels.
US stocks dip
US stocks ended sharply lower on Friday as chipmakers dropped on concerns about weak consumer demand, while rising Treasury yields pressured Amazon and other megacap growth companies.
- S&P 500 down 1.22%,
- Nasdaq dips 1.56%,
- Dow falls 0.83%
Asian shares cautious
Asian shares started cautiously on Monday in a week packed with central bank meetings that include the Federal Reserve and the Bank of Japan, which will be closely scrutinised for the global interest rate outlook.
- S&P 500 futures rose 0.2% as of 9:07 a.m. Tokyo time. The S&P 500 fell 1.2% on Friday
- Nasdaq 100 futures rose 0.2%. The Nasdaq 100 fell 1.8%
- Australia’s S&P/ASX 200 Index fell 0.1%
- Hong Kong’s Hang Seng futures fell 0.6%
Oil rises
Oil prices inched higher on Monday, buoyed by forecasts of a widening
