Pre-market action: Here's the trade setup for today's session
«Overall we remain bullish on the market given the robust domestic economic data, healthy corporate earnings, and strong FII flows. However, given the recent strong rally, bouts of volatility can’t be ruled out,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: We believe that the markets have taken a breather after the sharp rise seen last week. So any corrections are likely to be short lived and can be utilized to buy into quality stocks. Immediate resistance is now at 21483, said Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 5.88% to settle at 13.90 levels.
US stocks up
U.S. stocks gained ground on Monday as market participants parsed mounting expectations of interest rate cuts from the Federal Reserve in the coming year and looked ahead to a week of crucial economic data.
- Dow unchanged,
- S&P gains 0.45%,
- Nasdaq adds 0.61%
Asian shares up
Asian equity futures pointed to small gains Tuesday after Wall Street extended its relentless rally, buoyed by a burst of deals as traders largely ignored tempered messaging from Federal Reserve officials.
Stocks in F&O ban today
1) Delta Corp
2) SAIL
3) India Cements
4) Hindustan Copper
5) Manappuram
6) Balrampur Chini Mills
7) 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 33 crore on Monday. DIIs sold shares worth Rs 414 crore.
Rupee
The rupee surrendered all its initial gains to settle 2 paise lower at
