Nifty today: GIFT Nifty down 160 points; here’s the trading setup for today’s session

Markets had a strong session on Tuesday, with the Nifty gaining nearly 1%, supported by improving global sentiment, strong Q4 corporate earnings, easing crude, and a meaningful pullback in volatility. Analysts say all eyes turn to the second round of US-Iran talks, while markets remain hopeful of progress, elevated tensions and uncertain participation make any negative surprise a key downside risk.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 157.50 points, or 0.64 per cent, at 24,417.50, signaling that Dalal Street was headed for a negative start on Wednesday.

• Tech View: The India VIX slipped lower, confirming ebbing fear among investors. Going forward, the trend might remain strong, with the potential to rise towards 24800 and possibly higher. On the lower end, immediate support is placed at 24400.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 7% to settle at 17.53 levels.

US stocks end lower
U.S. stocks closed lower on Tuesday, with early gains evaporating as renewed concerns about the Middle East war outweighed initial optimism over a round of solid corporate earnings.Asian stocks mixed
U.S. stock futures rose and the dollar wavered on Wednesday after President Donald Trump said he would indefinitely extend the Iran ceasefire keeping sentiment buoyed although with the Strait of Hormuz still closed oil held onto its recent gains.

• S&P 500 futures rose 0.5% as of 9:52 a.m. Tokyo time
• Hang Seng futures fell 1%
• Nikkei 225 futures (OSE) rose 0.4%
• Japan’s Topix fell 0.6%
• Australia’s S&P/ASX 200 fell 0.7%
• Euro Stoxx 50 futures fell 0.1%

Dollar rises
The dollar steadied in early Asian trade on Wednesday, as skepticism over U.S. President Donald Trump’s announcement of an indefinite extension of a ceasefire with Iran lifted demand for the safe-haven currency, pushing it to a one-week high.

Oil dips
Oil prices turned lower on Wednesday after rising about $1 at the start of trade in Asia, with investors assessing the outlook for U.S.-Iran peace talks following the U.S. extension of a ceasefire.
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 1,919 crore on Tuesday. DIIs, meanwhile, were net sellers at Rs 2221 crore.

Rupee
The rupee declined 28 paise to close at 93.44 against the US dollar on Tuesday, weighed down by a steady American currency and volatile crude oil prices amid uncertainties over the progress of West Asia peace negotiations.

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