GIFT Nifty up 45 points; here's the trading setup for today's session
economictimes.indiatimes.commarket on weak global cues and substantial selling by foreign investors. The current week marks the September month's F&O expiry, which is expected to bring about volatility in the market.
«The factors that have influenced the markets last week may continue to exert some pressure in the current week too,” said Joseph Thomas, Head of Research, Emkay Wealth Management.
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 lower by 45 points, or 0.23 per cent, at 19,687.50, signaling that Dalal Street was headed for positive start on Monday.
- Tech View: The short term trend of Nifty continues to be weak. Having placed near the crucial lower supports, there is a possibility of minor upside bounce from near 19550 levels by next week. The anticipated upside bounce could be short lived and the market is expected to reverse down from the lower highs. Immediate resistance is around 19800-19850 levels.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 1.46% to settle at 10.66 levels.
US stocks dip
Wall Street see-sawed to a lower close on Friday, capping a tumultuous week during which benchmark Treasury yields hit 16-year highs and investors digested the Federal Reserve's hawkish outlook revisions.
Asian shares mixed
Asian stocks traded in tight ranges Monday and oil rose, while Treasury yields inched higher as investors weighed the Federal Reserve’s higher-for-longer stance.
- S&P 500 futures rose 0.1% as of 9:24 a.m. Tokyo time. The S&P 500 fell 0.2% Friday
- Nasdaq 100 futures rose 0.1%. The Nasdaq 100 fell 0.1% Friday
- Hang Seng futures fell 0.3%
- Japan’s Topix fell 0.1%
- Australia’s S&P/ASX 200 fell 0.5%
Oil climbs
Oil
