GIFT Nifty up 40 points; here's the trading setup for today's session

«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