Pre-market action: Here's the trade setup for today's session
«We reiterate our view to continue with a “buy on dips” approach until Nifty decisively breaks 21,900 levels. However, traders should maintain extra caution in stock selection citing mixed participation and avoid high beta counters,» said Ajit Mishra, SVP — Technical Research, Religare Broking.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: The hourly moving averages placed in the range 22130 – 22100 shall act as an immediate crucial support while 22275 – 22300 shall act as an immediate hurdle zone from a short term perspective, Jatin Gedia of Sharekhan said.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 4.19% to settle at 15.60 levels.
Stocks in F&O ban today
1) ABFRL
2) Balrampur Chini Mills
3) Canara Bank
4) SAIL
5) 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 sellers at Rs 285 crore on Monday. DIIs too sold shares worth Rs 5.33 crore.
Rupee
The rupee gained 3 paise to settle at 82.88 against the US dollar in a range-bound trade on Monday, tracking volatility in the equity market.
FII data
The net short of FIIs reduced from Rs 37,058 crore on Friday to Rs 29,137 crore on Monday.
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