GIFT Nifty down 150 points; here's the trading setup for today's session

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Equity markets staged a strong recovery on Friday, snapping a three-day losing streak. However, the rising tensions in the Israel-Iran conflict with the US involvement would impact markets on Monday.

Looking ahead, analysts say global cues will remain key, with investors eyeing US manufacturing and services PMI, and further developments on the geopolitical front. Markets may consolidate with bouts of volatility.


STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 153 points, or 0.61 per cent, at 24,976, signaling that Dalal Street was headed for negative start on Monday.
  • Tech View: Support is now placed at 24,850, and the index remains a ‘buy on dips’ as long as it holds above this level. On the higher side, it may continue advancing towards 25,350 and beyond.
  • India VIX: India VIX, which is a measure of the fear in the markets, fell 4.09% to settle at 13.67 levels.

Asian shares fall
US stock-index futures dropped and oil advanced early Monday in Asia following US strikes on Iran’s nuclear sites over the weekend. Asian equities fell.
  • S&P 500 futures fell 0.4% as of 9:06 a.m. Tokyo time
  • Hang Seng futures fell 0.5%
  • Japan’s Topix fell 0.6%
  • Australia’s S&P/ASX 200 fell 0.4%

Gold rises
Gold prices inched higher on Monday as investors turned to safe-haven assets amid growing fears of a broader Middle East conflict, with markets closely watching for Iran's response to U.S. attacks on its nuclear sites.

Dollar firm
The U.S. dollar firmed slightly on Monday as anxious investors sought safety, although the moves were muted so far suggesting markets were waiting for Iran's response to U.S. attacks on its nuclear sites that have exacerbated tension in the Middle East.

Oil prices jump
Oil prices jumped on Monday to their highest since January as Washington's weekend move to join Israel in attacking Iran's nuclear facilities stoked supply worries.

Stocks in F&O ban today

ABFRL

RBL Bank

Titagarh

Biocon

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 bought shares worth Rs 7,940 crore on Friday. DIIs, meanwhile, were net sold at Rs 3,040 crore.

Rupee
The rupee snapped its three-day losing streak and settled with a gain of 18 paise at 86.55 against the US dollar on Friday, buoyed by a massive inflow of foreign capital, retreating crude oil prices and a weakening greenback.

FII data
The position of FIIs in the futures market reduced from a net short of Rs 96962 crore on Thursday to Rs 96,368 crore on Friday.

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