Pre-market action: Here’s the trade setup for today’s session
STATE OF THE MARKETS
Tech View: The RSI is also seen coming out of the oversold zone, indicating an improvement in momentum. Resistance is placed at 23,300; sustained trading above this level might induce a rally towards 23,500. On the lower end, support is placed at 23,200, below which the trend might weaken.
India VIX: India VIX, which is a measure of the fear in the markets, was rose 7% to settle at 12.29.
Read more: Ahead of Market: 10 things that will decide stock market action on Friday
Stocks in F&O ban today
1) SAIL
2) Manappuram
3) Inox Wind4) Kaynes
5) 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.
Read more: Sebi bars Kore Digital promoters over alleged Rs 541 crore revenue misstatement
FII/DII action
Foreign portfolio investors net sold shares worth Rs 3,209 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 3,618 crore.
Rupee
The rupee, which slipped below the 96 level in intraday trade, ended Thursday’s session with a loss of just 3 paise at 95.94 (provisional) against the US dollar, paring initial losses on likely RBI intervention.
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.
