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

On Friday, the Nifty declined 0.3% to close at 24,570, due to weak global cues and investors booked profits following the recent rally. Analysts expect Indian equities to trade with a positive bias this week, supported by resilient domestic fundamentals, easing geopolitical concerns and continued stock-specific opportunities as the Q1 earnings season enters its final leg.

STATE OF THE MARKETS
Tech View: A sustained break below 24,300 would weaken the near-term setup and extend the corrective move towards the psychological 24,000 level.

India VIX: India VIX, which is a measure of the fear in the markets, rose 0.8% to settle at 12.16 levels.

Read Also: Ahead of Market: 10 things that will decide D-Street action on Monday

Stocks in F&O ban today

1) LIC
2) Bandhan Bank
3) Kaynes Tech
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 480 crore on Friday. DIIs, meanwhile, were net buyers at Rs 236 crore.

Rupee
The Indian rupee ended little changed on Friday and firmed modestly week-on-week as central bank intervention blunted pressure from higher oil prices, which added to traders’ caution heading into a key U.S. labour market report.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)