Pre Market Today: GIFT Nifty up 150 pts; D-Street likely to open in the green

Dalal Street is poised for a positive start on Monday, with GIFT Nifty trading higher by 148.50 points, or 0.66 per cent, at 22,567. The uptick signals a strong opening for benchmark indices, driven by improved global sentiment and supportive macroeconomic factors.

Market indicators: Key levels to watch

Technical analysts suggest that the immediate support level for Nifty stands at 22,300, with a breach below this mark potentially triggering further selling pressure toward 22,000. On the upside, resistance is seen at 22,630, and a breakout above this level could push the index toward 22,800.

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The Relative Strength Index (RSI) remains below its 14-day Simple Moving Average (SMA) at 38, indicating weak momentum. Meanwhile, India VIX, a measure of market volatility, dipped 3.2 per cent to settle at 13.28, reflecting reduced investor nervousness.

FII/DII action: Domestic investors remain buyers

Foreign portfolio investors (FPIs) continued to offload equities, recording net sales worth Rs 793 crore on Thursday. In contrast, domestic institutional investors (DIIs) stepped in as net buyers, purchasing shares worth Rs 1,723 crore. This trend highlights sustained domestic interest in the markets despite global uncertainties.

Global markets: US and Asia rebound

Wall Street closed higher on Friday as bargain hunters stepped in after a week of heightened volatility. Investors assessed ongoing trade tensions and economic data, leading to a recovery in major US indices.

Asian equities mirrored this optimism, with Japan’s Topix rising 1.1 per cent and Hang Seng futures gaining 0.6 per cent. Australia’s S&P/ASX 200 climbed 0.8 per cent, while Euro Stoxx 50 futures advanced 1.4 per cent, setting a positive tone for global markets.

Commodities: Oil and gold rise

Crude oil prices surged by nearly 1 per cent after the US reaffirmed its military stance against Yemen’s Houthis, raising concerns over supply disruptions. Meanwhile, gold prices remained firm after touching record highs last week, buoyed by geopolitical risks and expectations of Federal Reserve rate cuts.

Rupee movement: Strengthens against the dollar

The Indian rupee appreciated by 22 paise to close at 87 against the US dollar on Thursday. The rise was supported by easing crude oil prices and strong domestic macroeconomic data.

F&O ban list: Stocks under restriction

Several stocks are in the F&O ban period, including Manappuram, Hindustan Copper, BSE, IndusInd Bank, and SAIL. These securities have breached 95 per cent of the market-wide position limit, restricting fresh positions in the derivatives segment.

Outlook: Cautiously optimistic trade ahead

While global cues and technical indicators point to a positive start, traders should remain cautious amid ongoing uncertainties surrounding global trade and the US economic outlook. Key levels, institutional flows, and global developments will shape market momentum in the upcoming session.