Pre-market action: Here’s the trade setup for today’s session
STATE OF THE MARKETS
Tech View: The momentum indicator RSI is falling deeper into the bearish zone, further confirming weak momentum. In the near term, the weakness is likely to continue, with the index potentially declining towards 23,700/23,620. On the higher end, resistance is placed at 23,900
India VIX: India VIX, which is a measure of the fear in the markets, rose 4.5% to settle at 11.16.
Read more: Ahead of Market: 10 things that will decide stock market action on Tuesday
Stocks in F&O ban today
1) SAIL
2) LIC Housing Finance
3) Inox Wind4) Kaynes
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 280 crore on Monday. DIIs, meanwhile, were net buyers at Rs 567 crore.
Rupee
The Indian rupee traded in a narrow range on Monday, wedged between sustained market intervention by the Reserve Bank of India and a rise in oil prices as strikes on vessels sailing through the Strait of Hormuz stoked worries over energy flows.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
