Indian equities continued to trade weak as crude prices remained firm. On the daily chart, analysts the Nifty has say sustained below the 50EMA for eight consecutive sessions, keeping the bearish trend intact. The RSI is in a bearish crossover, indicating weak momentum. However, a closer and more granular view of the Nifty chart suggests the possibility of a meaningful recovery from current levels.

STATE OF THE MARKETS

• Tech View: On the volatility front, the index eased by nearly 1% over the week to close around 18, and any further cooling in volatility could lend support to bullish momentum. The broader structure remains positive as long as the Nifty holds above 23,800, though some near-term consolidation cannot be ruled out.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 1.1% to settle at 17.91 levels.

Stocks in F&O ban today

NIL

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 3,621 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 2,602 crore.

Rupee
The Indian rupee slid to a record low on Tuesday as a fragile truce in the Middle East came under strain after the US and Iran launched new attacks to wrestle for control of the Strait of Hormuz, a key artery for global energy supplies.

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