GIFT Nifty slides 110 points; D-Street likely to open negative


GIFT Nifty traded 110 points lower at 22,682.50, indicating a weak opening for the Indian equity market. This comes amid bearish global cues and foreign portfolio investors (FPIs) continuing to book profits.

Technical outlook: Nifty’s critical levels

Nifty closed at a multi-day low on Friday, reflecting a bearish sentiment. The Relative Strength Index (RSI 14) has signaled a bearish crossover, suggesting further downside.

  • Support levels: 22,500 in the short term
  • Resistance levels: 22,850 remains a strong hurdle

India VIX, the market’s fear gauge, eased slightly to 14.53, but volatility is expected to pick up ahead of the monthly derivatives expiry.

US and Asian market cues

Wall Street ended lower on Friday as concerns over fresh tariff threats and weaker consumer spending weighed on investor sentiment. The Dow Jones, S&P 500, and Nasdaq all closed in the red.

Asian markets had a mixed start, with investors awaiting Nvidia’s earnings this week, which could impact the tech sector’s trajectory. Meanwhile, European stocks were steady after the German election producing no major surprises.

FIIs remain cautious, rupee under pressure

Foreign institutional investors (FIIs) continued selling, pulling out Rs 3,449 crore on Friday, while domestic institutional investors (DIIs) countered the outflow with purchases worth Rs 2,885 crore.

The rupee closed at 86.68 per US dollar, down 4 paise, as sustained foreign fund outflows and a strengthening dollar weighed on the local currency.

Stocks in F&O ban

Manappuram Finance remains in the F&O ban list after breaching 95 per cent of the market-wide position limit.

Outlook for the day

The market is likely to stay volatile ahead of the monthly expiry and amid global uncertainties. While a pullback is possible, traders should watch for sustained movement above 22,850 for bullish confirmation.





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