“Overall we expect the market to continue its upward momentum while taking support from global cues. US Fed meeting minutes that would be released during the week, would hold importance after the US reported above-expectation CPI and PPI data which dampened sentiments,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
Here’s breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: The near-term trend of Nifty remains positive. But the market is displaying lack of strength to witness a decisive upside breakout of the resistance around 22150-22200 levels. Further consolidation or minor dip can’t be ruled out in the coming sessions. Immediate support is at 21950 levels, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 5.22% to settle at 16.02 levels.
Stocks in F&O ban today
1) Hindustan Copper2) India Cements3) Indus Tower
4) Canara Bank
5) ZEE
7) ABFRL
8) Nalco
9) Biocon
10) SAIL
11) Bandhan Bank
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 sold shares worth Rs 754 crore on Monday. DIIs, meanwhile, were net buyers at Rs 453 crore.
Rupee
The rupee rose 0.04% to settle at 83.05 against the US dollar on Monday amid positive sentiment in the domestic equity markets.
FII data
The net short of FIIs reduced from Rs 68,790 crore on Friday to Rs 63,809 crore on Monday.
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