Nifty today: GIFT Nifty up 5 points; here’s the trading setup for today’s session

Markets saw a recovery after two days of fall amid stability in global indices following ease in US Bond yields and a fall in crude oil prices from their recent highs. Investors will closely watch RBI policy outcome, due to be announced later today.

“Though the market bounced back, uncertainty persists which would keep the Nifty range bound. Investors would also watch out for US weekly jobless claims,” 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 higher by 4 points, or 0.02 per cent, at 19609, signaling that Dalal Street was headed for muted start on Friday.

  • Tech View: Technically, as long as Nifty is holding the 19,450 level the positive sentiment is likely to continue. On the higher side, the 50-day SMA or 19610 (Simple Moving Average) and 19675 would be immediate hurdles. On the flip side, below the 19450 level, the uptrend would be vulnerable.
  • India VIX: India VIX, which is a measure of the fear in the markets, fell 6.13% to settle at 10.94 levels.

US stocks down
U.S. stocks ended just slightly lower after bouncing off session lows on Thursday as investors awaited Friday’s monthly jobs report and further possible clues on the outlook for interest rates.

  • Dow down 0.03%;
  • S&P 500 dips 0.1%;
  • Nasdaq falls 0.1%

Asian stocks mixed
Shares in Asia were broadly flat before a monthly US payrolls report that will help define the path forward for Federal Reserve interest rates.

  • S&P 500 futures were little changed as of 9:10 a.m. Tokyo time. The S&P 500 fell 0.1%
  • Nasdaq 100 futures were little changed. The Nasdaq 100 fell 0.4%
  • Hang Seng futures rose 0.5%
  • Japan’s Topix fell 0.2%
  • Australia’s S&P/ASX 200 rose 0.3%
  • Euro Stoxx 50 futures were unchanged

Dollar dips
The dollar dipped on Friday but traders were largely keeping to the sidelines in both the currency and U.S. Treasury markets as they looked to U.S. nonfarm payrolls data later in the day for potential catalysts.

Stocks in F&O ban today

1) Indiabulls Housing Finance

2) Delta Corp

3) Manappuram

4) PNB

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 1,864 crore on Thursday. DIIs bought shares worth Rs 521 crore.

The Indian rupee ended marginally lower at Rs 83.24 on Wednesday amid a global bond rout, as likely dollar sales by the Reserve Bank of India (RBI) prevented a move towards record lows.

The net short position of FIIs decreased from Rs 92,228 crore on Wednesday to Rs 88,311 crore on Thursday.

(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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