Nifty today: Pre-market action: Here’s the trade setup for today’s session

Indian equities fell sharply on Friday, reacting to weak global cues and surge in crude oil prices after Israel launched military strikes on Iran. Analysts expect the market to remain subdued on the back of weak global cues, while industry-specific news flows would continue to drive sectoral movements.

STATE OF THE MARKETS

• Tech View: Going forward, the recovery could gain traction if the Nifty sustains above the 24,700 level. On the upside, the index may move towards 25,000 in the short term. Conversely, a decisive fall below 24,700 could trigger renewed bearish bets in the market.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 7.6% to settle at 15.08 levels.

Stocks in F&O ban today

IREDACDSL

ABFRL
Chambal Fertilisers
Hindustan Copper
RBL Bank

Titagarh

IEX

Birlasoft

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 sold shares worth Rs 1,263 crore on Friday. DIIs, meanwhile, were net buyers at Rs 3,041 crore.

Rupee
The rupee plummeted 59 paise to 86.11 against the US dollar on Friday due to a spike in global oil prices and a firm dollar amid rising tensions in the Middle East following Israel’s attack on Iran’s nuclear sites.

FII data
The position of FIIs in the futures market increased from a net short of Rs 99,478 crore on Thursday to Rs 1.04 lakh crore on Friday.