The trading setup reveals critical technical boundaries, with the 24,000 level coinciding directly with the 200-day moving average as primary resistance. Foreign portfolio investors fueled the market with net purchases totaling Rs 6,836 crore, eclipsing domestic institutional sales of Rs 3,679 crore. These capital inflows simultaneously bolstered the rupee, which appreciated 9 paise to 94.75 against the greenback. At the same time, derivative trading restrictions took effect as Kaynes and SAIL entered the futures and options ban list after breaching position thresholds.
Key points
Key technical parameters place critical market resistance at 24,000 and solid downside su…: Key technical parameters place critical market resistance at 24,000 and solid downside support at 23,600.
Kaynes and SAIL are barred from futures and options trading after crossing 95% of the pos…: Kaynes and SAIL are barred from futures and options trading after crossing 95% of the position limit.
The National Stock Exchange delivered strong quarterly earnings with a 23% increase in ne…: The National Stock Exchange delivered strong quarterly earnings with a 23% increase in net profit.
Sources checked by our analysis pipeline: 1
STATE OF THE MARKETS
Tech View: The next major hurdle is placed at 24,000, where the 200 DMA is positioned. On the downside, 23,600 will act as immediate support. Traders may consider partial profit booking near 24,000 while holding the remaining long positions with a stop-loss at 23,600.India VIX: India VIX, which is a measure of the fear in the markets, rose 1.4% to settle at 15.72 levels.
Read more: Ahead of Market: 10 things that will decide stock market action on Wednesday
Stocks in F&O ban today
1) Kaynes2) 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.
Foreign portfolio investors net bought shares worth Rs 6,836 crore on Tuesday. DIIs, meanwhile, were net sellers at Rs 3,679 crore.Rupee
The rupee settled with a gain of 9 paise at 94.75 against the US dollar on Tuesday, supported by inflow of foreign funds amid massive buying in domestic…
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