Pre-market action: Here's the trade setup for today's session
Equity markets buckled under relentless selling pressure on Thursday as investors turned risk averse in the ongoing poll season and further lightened their equity exposure to avoid being caught off guard.
«We expect this volatility to continue in the near term in the absence of any major positive trigger. Now till Nifty holds below 22000 zones, weakness could be seen towards 21700,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: Having bounced back decently from this support in the past, there is a higher probability of minor upside bounce from this lower support in the coming sessions. Immediate resistance is at 22100 levels, Nagaraj Shetti of HDFC Securities said.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 6.5% to settle at 18.20 levels.
Stocks in F&O ban today
1) Vodafone Idea
2) PEL
3) ABFRL
4) Balrampur Chini Mills
5) GMR Infra
6) SAIL
7) Canara Bank
8) ZEE
9) PNB
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 6,994 crore on Thursday. Meanwhile, DIIs bought shares worth Rs 5462 crore.
Rupee
The Indian rupee closed little changed at 83.5 on Thursday, tracking muted price action in most of its Asian peers and as dollar demand from custodian banks eroded the local unit's early gains.
FII data
The net short of FIIs