
Pre-market action: Here's the trade setup for today's session
«On the domestic front, the market would look at quarterly results for stock-specific action and we expect indices to consolidate after a sharp sell-off,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: The ideal strategy to trade this fall would be to sell on rise near the resistance zone (21800 – 21820). On the downside, we expect the index to target levels of 21167 which is the 40-day moving average and below that it can slip towards 20870 which is the 38.2% Fibonacci retracement level of the rise the Nifty has witnessed from 18837 – 22124.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 11.1% to settle at 15.08 levels.
Stocks in F&O ban today
1) India Cements
2) Metropolis
3) Delta Corp
4) Polycab
5) Hindustan Copper
6) Ashok Leyland
7) IEX
8) Chambal Fertilisers
9) ZEE
10) ABFRL
11) PVR Inox
12) Bandhan Bank
13) Nalco
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
Foreign portfolio investors were net sellers at Rs 10,578 crore on Wednesday. DIIs bought shares worth Rs 4,006 crore.
Rupee
The rupee slipped 1 paisa to settle at 83.13 (provisional) against the US dollar on Wednesday amid massive selling in domestic equity markets and a strong greenback overseas.
Q3 results
IndusInd Bank, Polycab, JSL and a slew of other companies will announce their third quarter results today.

