Good morning, dear reader! If you’re keeping an eye on the markets, today promises to be a day of mixed emotions as GIFT Nifty futures point towards a cautious start. Let’s dive into the details and see what’s brewing in the financial world.
GIFT Nifty Outlook: A Muted Start Ahead
GIFT Nifty futures on the NSE International Exchange (NSE IX) showed a minor dip of eight points or 0.03%, settling at 24,677.50. This indicates that the Indian markets are likely to open on a flat note this Wednesday. The subdued sentiment comes as global cues remain mixed and investors eye key macroeconomic data.
Technical Insights: Range-Bound Movements Continue
The Nifty continues to consolidate within a tight range, frustrating traders awaiting a clear breakout. On the downside, 24,470 is the critical support level—breaching it could lead to a correction of 200–250 points. Resistance remains firm at 24,700–24,750, creating a narrow window for upward movements.
If you’re into chart reading, stay updated on technical patterns and price charts at giftnifty.com.in.
India VIX: Lower Volatility Spells Calm
India VIX, the market’s fear gauge, declined by 2.34% to 13.78, signaling reduced expectations of volatility. This calm could encourage traders to adopt a “buy on dips” approach during intraday sessions.
Global Cues: A Mixed Bag
Here’s what’s shaping the mood globally:
Wall Street: U.S. markets ended lower on Tuesday. Tech stocks dragged indices as investors waited for the crucial U.S. inflation data, expected to influence the Federal Reserve’s rate decisions.
- Dow Jones: ⬇️ 0.35%
- S&P 500: ⬇️ 0.30%
- Nasdaq: ⬇️ 0.25%
Asian Markets: Sentiments remained mixed across Asia.
- Japan’s Topix: Flat
- Australia’s S&P/ASX 200: ⬇️ 0.3%
- Korea’s KOSPI: Positive
Stocks Under F&O Ban Today
For traders keeping tabs on the derivatives market, these stocks have hit the 95% market-wide position limit and are in the F&O ban list:
- Granules
- Manappuram Finance
- Metropolis Healthcare
- PVR Inox
- RBL Bank
FIIs and DIIs Stay Optimistic
Institutional players remained net buyers on Tuesday, suggesting confidence in the market:
- Foreign Institutional Investors (FIIs): Net purchase of ₹1,286 crore
- Domestic Institutional Investors (DIIs): Net purchase of ₹606 crore
Rupee Movement: Holding Steady
The Indian rupee showed resilience, closing at ₹84.85 against the U.S. dollar, a one-paisa gain. The currency’s stability is linked to positive expectations around the Reserve Bank of India’s new leadership and upcoming policies.
All eyes are on the U.S. inflation data, which could serve as a crucial market driver in the coming sessions. While broader indices remain range-bound, midcap and smallcap stocks continue to shine, making them a favorite for short-term investors.
Remember, if you want to track GIFT Nifty futures in real time or dive deep into market movements, giftnifty.com.in is your one-stop destination.
Stay tuned for more updates, and happy trading! 🚀
