GIFT Nifty up 5 points; here's the trading setup for today's session
«Overall we expect positive biases to continue led by expectation of healthy demand during the festive season and robust earnings delivery from the majority of the corporates,» 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 muted start
GIFT Nifty on the NSE IX traded higher by 4.5 points, or 0.02 per cent, at 19815.50, signaling that Dalal Street was headed for muted start on Tuesday.
- Tech View: The short term uptrend status of the market remains intact and positive chart patterns like higher tops and bottoms is also valid. Nifty on the weekly chart sustained above the 10-week EMA and bullish candlestick pattern was formed in the last few weeks, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 4.26% to settle at 11.07 levels.
US stocks gain
Major U.S. stock indexes ended sharply higher on Monday as investors were optimistic about the start of earnings season, while transportation and small-cap shares also jumped.
- Dow up 0.9%,
- S&P 500 rises 1.1%,
- Nasdaq gains 1.2%
Asian stocks climb
Asian stocks rose on optimism that ongoing diplomatic efforts may help prevent the Israel-Hamas war from expanding into a wider conflict.
- S&P 500 futures were little changed as of 9:14 a.m. Tokyo time. The S&P 500 rose 1.1%
- Nasdaq 100 futures were little changed. The Nasdaq 100 increased 1.2%
- Japan’s Topix index rose 1.4%
- Australia’s S&P/ASX 200 Index rose 1%
- Hong Kong’s Hang Seng futures rose 1.1%
Dollar on backfoot
The U.S. dollar started Tuesday on the back foot as investors took stock of developments in the Middle East and braced for a
