GIFT Nifty signals a negative start for D-Street. Here's the trading setup for today's session

Equity markets traded in a narrow range to close with minor gains on Thursday. Analysts said the release of pre-quarterly business updates is giving confidence in healthy Q1 earnings.

"We expect this ongoing momentum to continue and the Nifty to consolidate in a broader range. Investors would watch for the US Non-farm payroll and Unemployment Rate," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Here's breaking down the pre-market actions:


STATE OF THE MARKETS
Gift Nifty (Earlier SGX Nifty) signals a negative start.

Nifty futures on the Gift Nifty traded 50 pts lower at 24,368.

Tech View
Having placed at the hurdle of around 24400 levels (1.618% Fibonacci Extension), there is a possibility of this consolidation/minor dip extending for the coming sessions. Immediate support is at 10 day-EMA at 23,990, said Nagaraj Shetti of HDFC Securities.

India VIX
India VIX, which is a measure of the fear in the markets, fell 2.65% to settle at 12.86 levels.

Global Markets

• S&P 500 futures were little changed as of 9:07 a.m. Tokyo time
• Hang Seng futures were little changed
• Japan’s Topix was little changed
• Australia’s S&P/ASX 200 fell 0.2%
• Euro Stoxx 50 futures rose 0.4%

US equities

• The euro was little changed at $1.0813
• The Japanese yen was little changed at 161.32 per dollar
• The offshore yuan was little changed at 7.2926 per dollar

Stocks in F&O ban today
1) India Cements

2) Hindustan Copper

3) ABFRL

4) Bandhan Bank

5) PEL

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 turned net buyers at Rs 2,575 crore on Thursday. DIIs, meanwhile, sold shares worth Rs 2,375 crore.

Rupee
The rupee pared its initial losses and settled for the day on an almost flat note at 83.50 against the US dollar on Thursday, resisting pressure from elevated crude oil prices.

FII data
The net long of FIIs increased from Rs 3.78 lakh crore on Wednesday to Rs 3.92 lakh crore on Thursday.