
Pre-market action: Here's the trade setup for today's session
Domestic markets clocked losses for a second consecutive week following weak global cues. On Monday, markets will react to the latest allegations of Hindenburg, which dragged Sebi chief Buch into the Adani saga.
«Going forward, we expect markets to consolidate at higher levels due to mixed global cues and absence of any major domestic triggers,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: On the daily charts we can observe that the Nifty has witnessed a fall from 25100 – 23900 and is now in the process of retracing that fall. It can rally towards 24520 – 24651 where the 50% and 61.82% Fibonacci retracement levels of the fall are placed.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 7.6% to settle at 15.34 levels.
US stocks flat
The S&P 500 rose on Friday and remained steady for the week after recovering from recession-induced losses. Gains were led by the tech sector, including Take-Two Interactive and Expedia. Investors are now eyeing economic indicators and the next Federal Reserve meeting for potential rate cuts in September.
- Dow up 0.1%,
- S&P 500 rises 0.5%,
- Nasdaq gains 0.5%
Stocks in F&O ban today
1) India Cements
2) AB Capital
3) Birla Soft
4) Indiamart
5) RBL Bank
6) GNFC
7) Hindustan Copper
8) ABFRL
9) Manappuram
10) LIC Housing Finance
11) PNB
12) Granules
13) SAIL
14) Bandhan Bank
15) Biocon
Securities in the ban period under the F&O segment include