GIFT Nifty down 40 points; here's the trading setup for today's session

Indian equities extended their winning streak for the fourth consecutive session. Analysts expect positive momentum to continue, supported by sector-specific relief measures, ongoing government policy support, and robust institutional flows.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 42 points, or 0.17 per cent, at 24,969.50, signaling that Dalal Street was headed for a negative start on Wednesday.

• Tech View: Immediate support has now shifted higher to 24,800, while the 21-DMA at 24,770 will act as a crucial short-term support. As long as Nifty holds above this level, a buy-on-dips approach is recommended.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 4% to settle at 11.79 levels.

US stocks down
The Nasdaq and S&P 500 slid on Tuesday driven by tech stocks, as investors gear up for what Federal Reserve chair Jerome Powell will say about the path of interest rates at a key conference later in the week.

• Dow flat;
• S&P down 0.59%;
• Nasdaq down 1.46%

Asian shares dip
Asian equities fell at the open, mirroring Wall Street’s retreat after a sharp selloff in heavyweight technology shares.

• S&P 500 futures fell 0.1% as of 9:17 a.m. Tokyo time
• Japan’s Topix fell 0.3%
• Australia’s S&P/ASX 200 fell 0.2%
• Euro Stoxx 50 futures rose 1%

Gold falls
Gold prices inched lower on Wednesday to their lowest level in nearly three weeks as the dollar strengthened, while investors awaited the Federal Reserve's Jackson Hole symposium later this week for clues on the path for monetary policy.

Dollar gains
The dollar got off on the front foot on Wednesday following two days of gains as traders awaited the Federal Reserve's Jackson Hole annual symposium later this week for clues on the path for monetary policy.

Stocks in F&O ban today

RBL Bank
Titagarh

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 634 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 2,261 crore.

Rupee
The rupee appreciated 26 paise to close at 87.13 against the US dollar on Tuesday, supported by optimism over GST restructuring and positive domestic equity markets.

FII data
The position of FIIs in the futures market were flat at a net short of Rs 1.71 lakh crore on Monday to Rs 1.71 lakh crore on Tuesday.