The Nifty index retains a favorable technical bias supported by a bullish RSI crossover, anchored by crucial support at 22,800 and resistance near 23,175. Market sentiment drew strength from foreign portfolio investors, who injected Rs 3,598 crore into domestic shares while domestic institutions offloaded Rs 871 crore. Meanwhile, the Indian rupee advanced 50 paise to close at 94.76 against the US dollar amid a softening greenback. Derivatives trading faces select restrictions, however, as market volatility ticked higher with the India VIX rising 1.2% to 15.30.
Key points
The Nifty index maintains a positive outlook as long as it sustains above its 20-DMA and…: The Nifty index maintains a positive outlook as long as it sustains above its 20-DMA and the 22,800 support mark.
Rising market volatility measured by a 1.2% gain in the India VIX signals potential turbu…: Rising market volatility measured by a 1.2% gain in the India VIX signals potential turbulence ahead of the 23,175 resistance.
Strength in local shares and a weaker US dollar helped propel the Indian rupee up by 50 p…: Strength in local shares and a weaker US dollar helped propel the Indian rupee up by 50 paise to 94.76.
Sources checked by our analysis pipeline: 1
STATE OF THE MARKETS
Tech View: The RSI has also witnessed a bullish crossover, supporting positive short-term momentum. As long as Nifty sustains above its 20-DMA and the crucial support zone of 22,800, the short-term outlook remains positive, with resistance at 23,175.India VIX: India VIX, which is a measure of the fear in the markets, rose 1.2% to settle at 15.30 levels.
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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.
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FII/DII action
Foreign portfolio investors net bought shares worth Rs 3,598 crore on Friday. DIIs, meanwhile, were net sellers at Rs 871 crore.Rupee
The rupee appreciated 50 paise to close at 94.76 against the US dollar on Friday, supported by a positive trend in domestic markets and a soft US dollar.Disclosure: This…
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