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

Going forward, investors will closely track the pre-quarterly business updates to be released over the next few days for insights into the upcoming result season. Analysts expect the gradual uptick to continue in the market over the next few days, alongside a close watch on Q3 earnings and the global cues as foreign markets reopen after year-end holidays.

Here’s breaking down the pre-market actions:

STATE OF THE MARKETS

• Tech View: The short-term trend of Nifty remains strong on the upside and one may expect Nifty to move towards the next hurdle of 24,400 levels. Any dips from here could find support around 23,900, said Nagaraj Shetti of HDFC Securities.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 5.13% to settle at 13.74 levels.

Stocks in F&O ban today

1) Manappuram2) RBL BankSecurities 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 buyers at Rs 1,506 crore on Friday. DIIs bought shares worth Rs 22 crore.

Rupee
The rupee depreciated 9 paise to close at 85.73 (provisional) against the US dollar on Thursday, as strong dollar demand from importers and foreign fund outflows dented investor sentiments.

FII data
The net short of FIIs reduced from Rs 2.34 lakh crore on Wednesday to Rs 2.02 lakh crore on Thursday.

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