GIFT Nifty up 45 points; here's the trading setup for today's session

economictimes.indiatimes.com:

«Overall, we expect the focus to shift from mid and small caps to large caps in the near term, as investors may turn cautious on 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 43.5 points, or 0.22 per cent, at 20,073.50, signaling that Dalal Street was headed for positive start on Wednesday.

• Tech View: The short-term outlook is positive and this consolidation is likely to be used as a buying opportunity. In terms of levels, 19865 – 19810 is the crucial support zone while 20200 – 20250 shall act as an immediate hurdle zone.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 0.32% to settle at 11.69 levels.

US stocks slip
Wall Street stocks ended lower on Tuesday as Oracle shares tumbled more than 13% after a weak forecast and surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week.

• S&P 500 dips 0.57%,
• Nasdaq down 1.04%,
• Dow falls 0.05%

Asian shares mixed
Asian equities were mixed before US inflation data for August that may give a better guide on the future path for Federal Reserve interest rates. Oil traded near a 10-month high amid strains in global supplies.

• S&P 500 futures were little changed as of 9:11 a.m. Tokyo time. The S&P 500 fell 0.6%
• Nasdaq 100 futures were little changed. The Nasdaq 100 fell 1.1%
• Japan’s Topix index rose 0.2%
• Australia’s S&P/ASX 200 Index fell 0.3%
• Hong Kong’s Hang Seng futures rose 0.3%

Oil prices up
Oil prices edged higher on Wednesday, hovering at a new 10-month high hit the previous day, as expectations