Nifty today: Trading setup for the day: Here’s what changed for market while you were sleeping

Domestic equities rallied for a second consecutive day following strong macro data and firm global cues. Investors would keep an eye on services PMI data from Europe, UK and India, due later today.

“Going ahead, domestic positives should continue to support indices with broader market sustaining momentum. Sectoral rotation would continue with niche and underperforming sectors likely to do well,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

Here’s breaking down the pre-market actions:

GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded 8.5 points, or 0.04 per cent, higher at 19,607.50, signaling that Dalal Street was headed for muted start on Tuesday.

  • Tech View: Nifty continues to stay in the bullish territory as the index has maintained its position above the channel breakout level. The trend is expected to stay positive as long as it remains above 19,525. On the upside, the index could potentially extend its gains towards 19,750. Conversely, if it falls below 19,400, we may witness a period of consolidation.
  • India VIX: India VIX, which is a measure of the fear in the markets, fell 3.54% to settle at 10.96 levels.

Asian stocks slip
Asian stocks edged lower as traders returned their focus to China’s efforts to halt its economic malaise after markets in the US were shut for the US Labor Day holiday.

  • S&P 500 futures fell 0.1% as of 9:16 a.m. Tokyo time
  • Nasdaq 100 futures were little changed
  • Hang Seng futures fell 0.4%
  • Japan’s Topix fell 0.1%
  • Australia’s S&P/ASX 200 fell 0.5%
  • Euro Stoxx 50 futures fell 0.2%

Oil prices mixed
Oil prices were mixed on Tuesday as support from China’s measures to shore up its economy vanished, offsetting expectations of an extension in supply cuts by two leading OPEC+ members Saudi Arabia and Russia
Brent crude futures for November fell 10 cents, or 0.11%, to $88.90 a barrel. U.S. West Texas Intermediate crude (WTI) October futures rose 33 cents, or 0.39%, to $85.88 at 0029 GMT.

Stocks in F&O ban today

1) Indiabulls Housing Finance

2) Balrampur Chini Mills


4) Hindustan Copper

5) India Cements

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 were net sellers at Rs 3,367 crore on Monday, while DIIs bought shares worth Rs 2,563 crore.

The rupee depreciated by 11 paise to close at 82.73 against the US dollar on Monday, weighed down by a surge in crude oil prices and strength of the American currency in the overseas market.

The net long position of foreign portfolio investors increased from Rs 3,209 crore on Friday to Rs 5,603 crore on Monday.

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

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