
Pre-market action: Here's the trade setup for today's session
markets will take cues from the third quarter earnings season, which will be kick-started by TCS and Infosys on January 11. HCL Tech, Wipro, and HDFC Life and a few others will also announce their results this week.
«Overall we expect markets to remain in a positive range. Stock-specific action will gather pace with the start of the earning season,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: The short-term uptrend status of Nifty remains intact, but the market is likely to find resistance around 21800-21850 levels in the coming sessions. A decisive move only above 21850-21900 levels could open the next upside target of 22200 levels. Any dips from here could find support around 21500, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 5.25% to settle at 12.63 levels.
US stocks up
U.S. stock indexes endured a topsy-turvy session on Friday but ultimately closed marginally higher, as investors absorbed the latest macroeconomic data which offered contrasting views on when interest rate cuts may begin.
Stocks in F&O ban today
1) India Cements
2) Balrampur Chini Mills
3) Delta Corp
4) IEX
5) ZEE
6) SAIL
7) Nalco
8) Chambal Fertilisers
9) Piramal Enterprises
10) Escorts
11) GNFC
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
FII/DII action
FPIs remain net buyers on Friday at Rs 1,696 crore. DIIs sold shares worth Rs 3,497 crore. During the week, foreign investors have net pumped in about Rs 4,300 crore.
Rupee
The rupee gained 9 paise to close at 83.15