Nifty today: GIFT Nifty up 60 points; here’s the trading setup for today’s session

Nifty today: GIFT Nifty up 60 points; here's the trading setup for today's session



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Indian equity benchmarks recovered sharply from the Monday lows to end in green. Analysts expect markets to remain sideways, with stock-specific action as we enter the first leg of the earnings season.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 58 points, or 0.22 per cent, at 25,917, signaling that Dalal Street was headed for a positive start on Tuesday.

  • Tech View: This half session buying is not expected to change overall market sentiment. We would remain watchful, as the Nifty faces resistance in the 26000–26100 zone, where selling pressure may re-emerge. On the lower end, immediate and crucial support is placed at 25650.”
  • India VIX: India VIX, which is a measure of the fear in the markets, rose 4% to settle at 11.37 levels.

US stocks end higher
The ⁠S&P 500 and Dow registered record closing highs on Monday, with shares of technology companies and retailer Walmart gaining and as investors mostly brushed aside concerns about the U.S. Justice Department’s criminal investigation of Federal Reserve Chair ‌Jerome Powell.

  • Dow ‍up 0.2%,
  • S&P 500 rises 0.2%,
  • Nasdaq gains 0.3%

Asian shares gain
Asian shares climbed to near a record, buoyed by optimism over earnings and regional economic growth as investors broadened their focus beyond US markets.

  • S&P 500 futures fell 0.1% as of 9:21 a.m. Tokyo time
  • Japan’s Topix rose 2.1%
  • Australia’s S&P/ASX 200 rose 0.8%
  • Euro Stoxx 50 futures rose 0.3%

Dollar wobbles
The dollar held to its losses on Tuesday after the Trump administration opened a criminal investigation into Federal Reserve ⁠Chair Jerome Powell, a move that threatens the central bank’s independence and faith in U.S. assets.
Stocks in F&O ban today

SAIL
Sammaan Capital
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 net sold shares worth Rs 3,638 crore on Monday. DIIs, meanwhile, were net buyers at Rs 5,839 crore.

Rupee
The rupee recovered from low levels and settled 1 paisa higher at 90.16 against the US dollar on Monday on weak American currency and sliding crude oil prices.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)



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