Pre-market action: Here's the trade setup for today's session

economictimes.indiatimes.com:

markets snapped a four-day winning streak on account of profit booking and easing of service PMI, dampening the sentiments. Investors are awaiting Fed Powell’s Chair to get some input on interest rates.

«Overall, markets are likely to consolidate in the near term with sectorial rotation amid key events lined up. Capital Goods, Auto, PSU Bank, and Oil & Gas will continue to remain in focus,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS

• Tech View: Nifty should move towards the next resistance zone of 22,450-500 either continuously from the current levels or may be after a minor dip. Support for the index is now seen at 22,250-300 and 22,125-150 levels, said Tejas Shah of JM Financial & BlinkX.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 3.6% 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 turn net buyers at Rs 574 crore on Tuesday. DIIs too bought shares worth Rs 1,834 crore.

Rupee
The rupee settled unchanged at 82.90 against the US dollar on Tuesday amid a strong greenback against major rivals overseas and a negative trend in equity markets.

FII data
The net short of FIIs increased from Rs 50,047 crore on Monday to Rs 64,941 crore on Tuesday.