Pre-market action: Here's the trade setup for today's session
Equity markets clocked gains for the third consecutive week, continuing their upward trajectory as Nifty made new highs. The index, however, came under pressure at higher levels due to some profit booking.
«We expect this positive momentum to continue at a steady pace with stock-specific action. However, the release of economic data points next week would keep a little volatility in the market. Sector like Auto is expected to be in the limelight as OEMs would release their monthly auto Sales number,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: Having moved up sharply Nifty is currently facing hurdles at the resistance of 24000-24100 levels. Any dip from here is likely to be a buying opportunity. Immediate support is at 23800 levels, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 2.47% to settle at 13.80 levels.
Stocks in F&O ban today
1) India Cements
2) Indus Tower
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 turned net sellers at Rs 23 crore on Friday. DIIs, meanwhile, bought shares worth Rs 6,658 crore.
Rupee
The rupee rose 11 paise to settle at 83.34 against the US dollar on Friday amid recent inflow of foreign funds.
FII data
The net long of FIIs increased from Rs 3.19 lakh crore on Thursday to Rs
