Pre-market action: Here's the trade setup for today's session
«Although Nifty opens positive, it is witnessing resistance at higher levels, indicating cautiousness among the investors with the progress of both the result season and the Lok Sabha election. We expect this volatile move to continue till the Exit poll. Hence market to remain in a broader range until clarity emerges,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: The higher bottom reversal needs to be confirmed with an upside bounce from the lows. Immediate resistance is at 22400 levels and the next lower levels to be watched are around 22100-22000, Nagaraj Shetti of HDFC Securities said.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 2.4% to settle at 17.01 levels.
Stocks in F&O ban today
1) Vodafone Idea
2) Biocon
3) ABFRL
4) Balrampur Chini Mills
5) GMR Infra
6) SAIL
7) PNB
8) 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 3,668 crore on Tuesday. Meanwhile, DIIs bought shares worth Rs 2,304 crore.
Rupee
The rupee consolidated in a narrow range and settled higher by 1 paisa at 83.51 against the US dollar on Tuesday amid softening crude oil prices in the international market.
FII data
The net short of FIIs increased from Rs 35,038 crore on Monday to Rs 64,718 crore on Tuesday.
Q4 results
L&T, Tata Power, Canara
