Thursday, December 19, 2024
Thursday, December 19, 2024
Home BuisnessMarket Insight Pre-Market Action: Here is the trade setup for today’s session

Pre-Market Action: Here is the trade setup for today’s session

by PratapDarpan
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The Indian market is experiencing a breakdown in the early Santa Claus rally, the impact of which is more pronounced in India than in developed markets due to the rapid appreciation of the dollar. In today’s trade, markets will react to the US Fed’s decision.

Vinod Nair said, “Market sentiment remains cautious ahead of possible policy and tariff shifts from the incoming US administration. This caution is further influenced by India’s premium valuation, which is significantly above the current income growth pace, which has slowed in the last two quarters. Vinod Nair said. , Head of Research, Geojit Financial Services.

Here’s a breakdown of the pre-market actions:

Market conditions

  • Tech View: We expect this consolidation to continue as the hourly momentum indicator still has a negative crossover and is still far from the equilibrium line. On the downside, 24,160 – 24,140 is a strong support zone. On the upside, 24,350 – 24,400 is an immediate barrier.
  • India VIX: The India VIX, a gauge of fear in the markets, settled down 0.8% at 14.37.

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    1) Granules

    2) Manappuram

    3) Nalco

    4) Sail

    5) RBL Bank

    6) Hindustan Copper

    7) NMDC

    8) PVR Inox

    9) Chambal Fertilizers

    10) Bandhan Bank

    Block period securities under the F&O segment include companies in which the security exceeds 95% of the market-wide position limit.

    FII/DII action
    Foreign portfolio investors on Wednesday invested Rs. 1,316 crore became net sellers. DIIA Rs. 4084 crore shares were sold.

    Rs
    The rupee stabilized at 84.91 against the US dollar on Wednesday due to disappointing trade balance data and weak domestic markets.

    FII data
    Net short by FIIs on Tuesday was Rs. 91,098 crore on Wednesday to Rs. 1.01 lakh crore.

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

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