GIFT Nifty up 85 points; here's the trading setup for today's session

Benchmark indices ended largely flat on Monday, while India VIX rose 10%, indicating a near-term uptick in volatility. Looking ahead, markets are likely to remain in a consolidation phase, taking cues from geopolitical developments.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 84 points, or 0.35 per cent, at 24,425.50, signaling that Dalal Street was headed for a positive start on Tuesday.

• Tech View: Technically, immediate support is placed around 56,200-56,300, while a stronger base is seen near 55,200-55,500 levels. On the upside, 57,200 continues to act as a key resistance. A decisive move above or below these levels is likely to set the next directional trend for the index.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 9.2% to settle at 18.79 levels.

US stocks end lower
U.S. stocks closed slightly lower on Monday, with each of the three major indexes coming off a third straight week of gains, as renewed U.S.-Iran tensions put the durability of a two-week ceasefire in doubt.

Asian shares gain
Asian stocks edged higher as signs Iran may join talks with the US fostered cautious optimism about progress in the Middle East ahead of a looming ceasefire deadline.

• S&P 500 futures rose 0.1% as of 9:05 a.m. Tokyo time
• Hang Seng futures rose 0.4%
• Japan’s Topix was little changed
• Australia’s S&P/ASX 200 rose 0.2%
• Euro Stoxx 50 futures fell 1.1%

Oil dips
Oil prices fell on Tuesday, reversing gains in the previous session, on expectations peace talks between the U.S. and Iran will take place this week and allow more supply to flow from the key Middle East producing region.

Stocks in F&O ban today

SAIL

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 1,059 crore on Monday. DIIs, meanwhile, were net sellers at Rs 2,966 crore.

Rupee
The Indian rupee logged its steepest one-day fall in a week on Monday, with wary investors bracing for the end of the US-Iran ceasefire a day later amid rising tensions in the Middle East.

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