


Pre-market action: Here's the trade setup for today's session
Analysts said the coming weeks will see the direction of the market influenced significantly by the flow of funds from foreign investors.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: Further upsides are likely once the immediate resistance of 21492 is taken out. Caution is however warranted for the near term as the 14-day RSI at 84.93 is in overbought territory. Thus, any short-term corrections can be utilized to buy into quality stocks, said Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 6.55% to settle at 13.13 levels.
US stocks up
The S&P 500 ended a choppy session little changed on Friday but registered a seventh straight week of gains in its longest winning streak since 2017 after this week's dovish pivot by the Federal Reserve.
Asian shares mixed
Asian stocks are set for a weaker open after US shares ended a six day rally as Federal Reserve officials pushed back against bets of aggressive interest rate cuts next year.
- S&P 500 futures were little changed as of 8:27 a.m. Tokyo time. The S&P 500 was little changed on Friday
- Nasdaq 100 futures were little changed. The Nasdaq 100 rose 0.5%
- Hang Seng futures fell 0.8%
- Australia’s S&P/ASX 200 fell 0.4%
Stocks in F&O ban today
1) Delta Corp
2) SAIL
3) India Cements
4) Hindustan Copper
5) Manappuram
6) Balrampur Chini Mills
7) 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 were net buyers at Rs 9,239 crore on Friday. DIIs sold shares worth Rs 3077 crore.
Rupee
The rupee