Nifty today: Pre-market action: Here’s the trade setup for today’s session

Indian markets opened on a weak note. but staged a V-shaped recovery from intraday lows to close higher. Analysts expect the market to remain range-bound, tracking developments around US-Russia peace talks, India’s response to US tariffs and the domestic earnings trajectory.

STATE OF THE MARKETS

• Tech View: In the short term, the index may continue to recover; however, immediate resistance is seen at 24,660. A decisive move above this level could take the index towards 24,850. On the downside, support is placed at 24,400 on a closing or sustained basis.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 2.3% to settle at 11.69 levels.

Stocks in F&O ban today

PNB Housing
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 4,997 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 10,864 crore.
Rupee
The rupee extended recovery for the second straight session and settled 14 paise higher at 87.58 against the US dollar on Thursday, backed by a weaker American currency amid volatile global sentiment following US’ move to raise duty on Indian goods up to 50 per cent as penalty for buying Russian oil.
FII data
The position of FIIs in the futures market increased from a net short of Rs 1.67 lakh crore on Wednesday to Rs 1.73 lakh crore on Thursday.