Pre-market action: Here’s the trade setup for today’s session

Domestic markets extended its winning streak for the third consecutive session on Friday with Nifty advanced nearly 2% last week. The rally was driven by strong quarterly earnings, easing crude oil prices and firm global cues. Analysts say Indian equities are expected to trade with a positive bias as healthy domestic macros, and a strong Q1 earnings season continue to support investor confidence. Investors will closely monitor RBI’s monetary policy decision, India’s Manufacturing and Services Purchasing Managers’ Index (PMI) data, along with developments in crude oil prices and geopolitical tensions in West Asia this week.

STATE OF THE MARKETS

Tech View: The overall trend remains positive, as the index has been sustaining above the critical 50 EMA on the daily chart. On the downside, immediate support for short-term traders is placed at 24,200. On the higher end, resistance is seen at 24,500.

India VIX: India VIX, which is a measure of the fear in the markets, fell 3% to settle at 11.76 levels.

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Stocks in F&O ban today
NIL
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 277 crore on Friday. DIIs, meanwhile, were net buyers at Rs 2,260 crore.

Rupee
The rupee stayed in positive territory on Friday, gaining 7 paise to settle at 95.43 against the US dollar, tracking sustained foreign capital inflows and support from the Reserve Bank.

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