


Pre-market action: Here's the trade setup for today's session
Equity markets remained under pressure for the fifth consecutive day as the selloff mood continued ahead of the exit poll data and mega election verdict.
«Global markets remained under pressure due to rising bond yields and denting hopes of rate cut. We expect market volatility to heighten as we approach the general election outcome,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
Here's a break down of the the pre-market actions:
STATE OF THE MARKETS
- Tech View: «The recent decline has disrupted the positive momentum, with Nifty falling below its crucial short-term moving average, the 20 DEMA. A decisive break of the 22,400 level could trigger a further drop to the 22,000-22,150 zone. We suggest aligning trades accordingly and adopting a hedged approach,» Ajit Mishra, Senior Vice President, Research at Religare Broking.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.04% to settle at 24.17 levels.
Stocks in F&O ban today
There are no companies under ban today.
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 3,050 crore on Thursday. DIIs, meanwhile, bought shares worth Rs 3,432 crore.
Rupee
The rupee recovered 11 paise to settle at 83.29 against the US dollar on Thursday on softening American currency and crude oil prices in the overseas market.
FII data
The net short of FIIs increased from Rs 5206