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

economictimes.indiatimes.com:

«FMCG and contrarian plays like gold are offering some refuge. Other than the premium valuation no fundamental issue is noticed to drawback the long-term growth image of domestic midcaps,» said Vinod Nair, Head of Research, Geojit Financial Services.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS

• Tech View: The bullish pattern like higher tops and bottoms continued on the daily chart and present weakness could be in line with the new higher bottom formation. But a decisive move below 21860 levels (last higher bottom of 29th Feb) could negate this bullish setup and that could eventually form a bearish pattern like lower tops and bottoms, Nagaraj Shetti of HDFC Securities said.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 5.8% to settle at 14.43 levels.

Stocks in F&O ban today

1) ZEE

2) ABFRL

3) Manappuram

4) RBL Bank

5) SAIL

6) Tata Chemicals

7) Hindustan Copper

8) Nalco

9) PEL

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 sellers at Rs 4,595 crore after five days of buying. Domestic institutional investors bought shares worth Rs 9,093 crore.

Rupee
The rupee declined 1 paisa to settle at 82.81 against the US dollar on Wednesday, tracking a broad-based selloff in domestic markets and foreign capital outflows.

FII data
The net short of FIIs reduced from Rs 30,301 crore on Tuesday to Rs 43,820 crore on