GIFT Nifty up 40 points; here's the trading setup for today's session
economictimes.indiatimes.com
«Overall, we would suggest investors to shift their focus from mid and small caps to large caps in the near term, as the risk-reward is favourable over there,» 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 36 points, or 0.18 per cent, at 20,182, signaling that Dalal Street was headed for positive start on Thursday.
- Tech View: On daily charts, Nifty has formed an inside body candle which indicates indecisiveness between the bulls and bears. For traders now, 19950-19000 would act as key support zones while 20100-20150 could act as key resistance levels for the bulls.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 1.18% to settle at 11.83 levels.
US stocks gain
The S&P 500 and Nasdaq ended higher on Wednesday after data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September.
- S&P 500 +0.12%,
- Nasdaq +0.29%,
- Dow -0.20%
Asian shares up
Asian stocks rose on cautious optimism after Wall Street largely looked through a US inflation report that was in-line with estimates, reinforcing bets the Federal Reserve may pause rate hikes but signal it’s not over yet.
- S&P 500 futures edged 0.1% higher as of 9:38 a.m. Tokyo time. The S&P 500 was little changed
- Nasdaq 100 futures rose 0.2%. The Nasdaq 100 rose 0.4%
- Japan’s Topix rose 0.3%
- Australia’s S&P/ASX 200 was little changed
- Euro Stoxx 50 futures fell 0.1%
Oil rises
Oil prices edged higher on Thursday, after dipping slightly in the previous session, as markets refocused on
