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

economictimes.indiatimes.com:

Domestic markets continued their winning run for the fourth day in a row on Wednesday, driven by strong global cues.

«Despite the bulls maintaining their upward trajectory for the fourth consecutive session, there's a noticeable lack of momentum,» said Rajesh Bhosale, Technical Analyst, Angel One.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS

• Tech View: «Nifty remained sideways throughout the session before closing with a slight gain. Sentiment for the short term continues to remain positive as the index closes above the critical moving average,» said Rupak De of LKP Securities.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 0.78% to settle at 10.28 levels.

FII/DII action
Foreign portfolio investors (FPIs) were net sellers for the third straight day at Rs 2,511 crore on Wednesday. DIIs, meanwhile, bought shares worth Rs 3,809 crore.

Rupee
The rupee consolidated in a narrow range and settled for the day higher by 1 paisa at 83.30 against the US dollar on Wednesday, as the support from positive domestic equities was negated by rising American currency.

FII data
The net short of FIIs increased from Rs 1.08 lakh crore on Tuesday to Rs 1.24 lakh crore on Wednesday.

Q4 results
Bajaj Finance, Nestle, Tech Mahindra, IndusInd Bank, LTTS among others will announce their fourth quarter earnings on Wednesday.