Pre-market action: Here's the trade setup for today's session
markets closed the special trading session on Saturday with losses due to some profit booking and mixed global cues. A series of key interest rate decisions by Bank of Japan and ECB week along with US GDP due this week could have an influence on the market sentiments.
Want to take exposure to a sector which grows much faster than GDP
«In the holiday truncated week, traders are expected to stay light as earnings season gets into full swing leading to stock specific action,» 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 trend of Nifty remains choppy. Having faced weakness after a small rise on Saturday signal weak bias for the market ahead. At the higher levels, the market could encounter strong overhead resistance around 21750-21850 levels and on the downside could find support around 21300 levels in the near term, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 1.8% to settle at 13.80 levels.
Stocks in F&O ban today
1) ABFRL
2) Balrampur Chini Mills
3) Delta Corp
4) IEX
5) OFSS
6) IRCTC
7) Polycab
8) RBL Bank
9) SAIL
10) ZEE
11) 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 545 crore on Saturday. DIIs too sold shares worth Rs 719 crore.
Rupee
The rupee gained 6 paise to settle at 83.07 against the US dollar on Friday, tracking robust buying in domestic equity markets and weak American currency overseas.
FII data
The net short of FIIs increased from Rs 16,240
