“Geopolitical uncertainty and concerns over a potential decline in foreign inflows have spooked the markets. With Nifty breaching multiple supportsβsuch as the 20-day exponential moving average (DEMA) around the 25,580 level and trendline support near 25,350 β the market could face further downside,” said Ajit Mishra β SVP, Research, Religare Broking.
Here’s breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: Immediate support is seen at 25,000, followed by 24,750, while 25,500 is expected to act as the immediate resistance. Traders should closely monitor these key levels, as a break below support could trigger further downside, while resistance at 25,500 may cap any short-term recovery attempts, said Hardik Matalia of Choice Broking.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 9.8% to settle at 13.17 levels.
Stocks in F&O ban today
1) BirlaSoft
2) Bandhan Bank
3) Hindustan Copper
4) RBL Bank
5) Granules
6) Manappuram
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 turned net sellers at Rs 15,243 crore on Thursday. DIIs bought shares worth Rs 12,914 crore.
Rupee
The rupee depreciated 14 paise to settle at 83.96 against the US dollar on Thursday, as a volatile geopolitical situation triggered a surge in crude oil prices and dragged down by a steep fall of over two per cent in domestic equity markets.
FII data
The net long of FIIs reduced from Rs 3.38 lakh crore on Tuesday to Rs 1.62 lakh crore on Thursday
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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