Gift Nifty up 25 points: Here's the trading setup for today's session
«Overall the mood of the market remains positive. We expect the market to remain range bound with stock specific action next week,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
Gift Nifty (Earlier SGX Nifty) signals a positive
Nifty futures on the Gift Nifty traded at 21,418.50, up 24 points or 0.11%, signalling a positive start for Dalal Street.
- Tech View: Nifty would need to cross the recent highs of 21593 to reverse the current downtrend. Crucial supports to watch for re-emergence of weakness are at 21232, Subash Gangadharan of HDFC Securities said.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.36% to settle at 13.71 levels.
Asia eyes muted open
Stocks in Asia were mostly unchanged while currencies in Asia ticked higher amid cautious trading and reduced liquidity with some markets closed for holidays. Benchmarks for Japanese equities traded flat at the open while other markets including Hong Kong, New Zealand and Australia were shut.
- S&P 500 futures were little changed
- Nikkei 225 futures (OSE) were little changed
- Japan’s Topix was little changed
Dollar struggles to gain footing in thin trade
The dollar was trying to find a floor on Tuesday in holiday-thinned trade, pressured by signs that inflation in the world's largest economy is cooling that will likely give the Federal Reserve room to ease interest rates next year. The dollar index languished near a five-month low of 101.42 hit last week, and was last at 101.65.
Oil prices steady
Oil steadied after posting the largest weekly advance in more than two months, with shipping disruptions in the Red Sea in focus after a spate of Houthi
