Pre-market action: Here's the trade setup for today's session
Want to take exposure to a sector which grows much faster than GDP
«Given monthly F&O expiry and long weekend ahead, traders would stay light especially in absence of any major positive trigger,» 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 seems to have reversed up, but the uncertainty remains in the market at the highs. The market could encounter strong resistance around 21500-21600 levels in the coming session. Immediate support is at 21220 levels, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 3.2% to settle at 14.38 levels.
Stocks in F&O ban today
1) ZEE
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 offloaded equities worth Rs 6,934 crore on Wednesday. DIIs, meanwhile, invested Rs 6,012 crore.
Rupee
The rupee stayed range-bound and settled 3 paise higher at 83.12 against the US dollar on Wednesday.
FII data
The net short of FIIs reduced from Rs 18,829 crore on Tuesday to Rs 8556 crore on Wednesday.
Q3 results
Vedanta, Tata Technologies, SBI Life, JSW Steel and a slew of other companies will announce their third quarter results today.
