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

Domestic markets opened on a positive note at all-time high levels on Monday but witnessed profit booking and closed flat. This week, the market will focus on the Central Bank’s policy meeting globally as the US Federal Reserve, BOE, and BOJ will announce their decisions.

"Interest-sensitive sectors including banking will remain in focus. Overall, we expect the market to continue its gradual uptick, however, volatility cannot be ruled out ahead of key events," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

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 76 pts lower at 24,876.

Tech View
The near-term uptrend status of Nifty remains intact. The market could probably show some more choppy movement or minor dip in the next 1-2 sessions before surging higher in the near term. Immediate support is at 24600 levels. Overhead resistance to be watched around 25000-25100 levels, said Nagaraj Shetti of HDFC Securities.

India VIX
India VIX, which is a measure of the fear in the markets, rose 5.1% to settle at 12.94 levels.

Global Markets

• S&P 500 futures fell 0.2% as of 9:12 a.m. Tokyo time
• Hang Seng futures fell 0.2%
• Japan’s Topix fell 0.5%
• Australia’s S&P/ASX 200 fell 1.2%
• Euro Stoxx 50 futures fell 1%

Forex News
The dollar held steady on Monday as traders braced for an avalanche of market events featuring midweek policy decisions by the Federal Reserve, Bank of Japan and Bank of England, and what could be a pivotal U.S. employment report for the Fed on Friday.

The yen was little changed following the Japanese currency's strongest weekly rally since late April on the back of shifting interest rate expectations and a stock market sell-off.

Oil falls
Oil prices slipped in early Asian trading on Tuesday, extending losses from the previous session, over concerns about Chinese demand and as the market shrugged off the risk of conflict escalating in the Middle East.

Brent crude oil futures fell by 12 cents or 0.15% to $79.78 a barrel by 0033 GMT. U.S. crude futures were down 14 cents, or 0.18%, at $75.67 a barrel.

Stocks in F&O ban today

1) India Cements

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 sellers at Rs 2,474 crore on Monday. DIIs bought shares worth Rs 5,665 crore.

Rupee
The rupee moved in a narrow range before settling flat at 83.73 against the US dollar on Monday as a firm American currency in overseas markets offset the gains from weak crude oil prices.

FII data
The net long of FIIs increased from Rs 1.32 lakh crore on Friday to Rs 1.51 lakh crore on Monday.

Q1 results
IOC, Varun Beverages, GAIL, Macrotech, Tata Consumer among 91 companies will announce their first quarter results on Tuesday.