Pre-market action: Here's the trade setup for today's session
US markets, leading to a continued sell-off after a brief recovery in the prior sessions.
«As we move forward, it is beneficial to stay informed about the developments regarding the FOMC outcome, as these insights will likely shape the intermediate market trend. Furthermore, it is prudent to exercise caution considering the growing uncertainty permeating the market, which could lead to unpredictable fluctuations,» said Osho Krishan, Senior Analyst — Technical & Derivatives, Angel One.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: The short-term trend remains dicey with short-term volatility in the market. Until the Nifty surpasses 24,500 levels, a meaningful upside rally is not expected. At the lows, the Nifty could find support around 23,800 levels, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 0.49% to settle at 14.94 levels.
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