Pre-market action: Here's the trade setup for today's session
markets as ongoing worries about a potential conflict between Iran and Israel emerge. Analysts said if tensions escalate significantly, there's a risk of panic selling and increased volatility across global stock markets.
«Nifty managed to hold 100-DMA and make a smart recovery from the lower levels at 21777. 22300 will be the first hurdle, while 22525 will be the next hurdle. If Nifty slips below 22000, then 100-DMA around 21700 will be the next support level,» said Pravesh Gour, Senior Technical Analyst at Swastika Investmart.
Markets saw some relief at the start of Thursday's session but failed to sustain at higher levels amid volatility and declined for the fourth consecutive day.
«Overall we expect volatility to continue in the market in the absence of any major positive trigger, while focus will continue on stock-specific action amid the earning season,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: «Technically, the set-up is mildly negative at this point with Nifty below the crucial resistance zone of 22,300-350. A crossover beyond this area is required for the bulls to be back in the game,» said Tejas Shah, JM Financial and BlinkX.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 3.2% to settle at 13.46 levels.
Stocks in F&O ban today
1) Balrampur Chini Mills
2) Metropolis
3) Biocon
4) Vodafone Idea
5) Exide Industries
6) SAIL
7) ZEE
8) PEL
9) Bandhan Bank
Securities in
